I found the problem (or at least a solution). The advance without the rotor moved fine. When I installed the rotor it seemed to bind. It looks as though the structural ribs on the bottom of the rotor impinged on the weights ever so slightly. Added a thin washer under the rotor attachment screws and the problem went away. Manufacturing tolerences?

So playing with the advance now.

-12 degrees idle with no vac line hooked up
~25 with full manifold vacuum at idle
~34 with no load no vacuum
~48 with no load with vac

Thanks for all the help and suggestions!

Now to figure out the carb. The truck accelerates very well to ~3000 then slows up a bit. I don't have a frame of reference as this is my first inline 6. Not sure if that is just normal or some carb tuning is in order. So far the Edel 500 is as received - stock settings.