Yeah, that's the factory timing, which might be why late '70s cars were such hard starters. Now the vacuum advance has a thermo-valve plugged into the water neck in the middle of the vacuum line. I'm not sure how that works, if it opens up at a certain temperature, or closes off. I had replaced that valve a few years back.
I'll check the prime, but the new fuel pump I installed a year ago so it should be in good shape. Carb side might be an issue on the prime.
