Good debate..

Yes, of course you can adjust the cam phasing without pulling the distributor. If you're saying you can adjust cam phasing by changing ignition timing, you're sillier than I have given you credit for.
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No that not what I am saying...Moving the ignition has noting to do with cam timing....

Only way to do that is by moving the cam position itself in relation to the crank...

I do know how to advance and retard a cam and it's relationship to the power curve and all it has to do with anything....

I do know that the mid 70's Olds v8's were some as follows

what they considered rocket had the timing on the sticker also as 16 deg BTDC @ 650-800rpm

Non-rockets were 8deg BTDC

Although I am not sure is how the production cams were advanced.... I think they were like early fords?

They advance was built into the gear set , usually the bottom gear?

Denny.... that is some good info.....back in my day I worked at a shop that the owners redid all kinds of Olds from 40's thru 80's these guys were really slick on Olds engines...They really had some neet factory race stuff....