15° Retarded
Today I pulled the distributor, noting the placement of the housing and the placement of the rotor. Sure enough, there was considerable vertical distributor shaft play. Measured out at 0.050" vertical play. I added two 0.020" shims, lubed, verified movement as 0.008" (probably a bit more once everything seats). Reinstalled everything and verified that I was now 30° clockwise from the original location. I tightened everything down and fired the car up, though it was a bit hard to start.
Readjusted the timing (put it down to 10° BTDC). Car runs good! Has more umph than before.
Maybe others have noticed the same issue. Job took less than 45 mins total. Shims were like $5. Easy job, low cost!
Aaron

there was a post about that awhile ago. I had two 350's where I had to have the bushings replaced, and I can tell you that made a hellava lot of difference...good that is. 





