http://www.misterfixit.com/chanslop.htm Basically, you don't want "any" within reason to be able to put on. There could be some wear showing from the dist gear with this method. Retest with the new parts, so you have a benchmark.
Another way to tell is if the timing light mark is moving around, back and forth(oscillating) can't set timing precisely. The old eyeball test was to remove chain, hold on it's side and observe static deflection, it should stay fairly straight and not sag more than a few degrees. Check the new one to get a mental feel for this.
In order to jump 180 degrees exactly, is something of a modern day "miracle" in automotive annals and the chain probably would've had to fall off on it's own.
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