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Good news! I pulled the dizzy, and found quickly that the screw holding down the condensor was too long, and blocking the vac advance plate from moving! That was easy to fix. Cleaned and lubed things up, bushing has no radial play, so I put in new points, and will install back in the car soon.
Timing was at 6deg btdc, which is right for a 53 327, but not for a 359. I am not sure if I will try 0deg btdc to start, and then see if any more static advance is possible. I'm happy it looks like the dizzy was easy to fix up!

Hi everybody, I'm about to install the dizzy. These 2 bolts hold it to the block. Is there a correct way to do the forward and rear most bolt? When I took it apart, the bolt with the screwdriver slot and wide shank was in the back, but I think it would make more sense in the forward bolt hole. Also, the washer on that bolt doesn't do anything either. Am I overthinking this?

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Nevermind, the bolt with the larger shank only fits in the rear mist hole!

The bolt with the shank is called a shoulder bolt and its purpose is to allow a slight drag while the other bolt is loosened while adjusting the timing. It seems to be that it used a wave washer along with the flat washer to keep the tension on it while still allowing it to be moved but I'm not sure so maybe a perusal of the parts book is in order.

Thanks Don!
Found the next little thing to fix. The points were connected to the (-) side of the ignition coil, but for a positive ground car, they should be connected to Plus side when I look at the wiring diagram.
What else will I find?

Yes, that correct. The positive side should go do the coil.

One of the last steps for ignition. The car had resistor Rotor, wires and ACR45 plugs.
I think I will swap in the set of Packard 440 solid core wires that I have! A job for tommow.

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Tobs, highly recommend replacing the resistor rotor with a non-resistor one. The resistors in these rotors are somewhat of a problem in that they will fail. And, they fail without warning. When this happens there will be no spark to the plugs. Resistor rotor, wires and plugs are way too much suppression. I would go with the Packard 440 cable, straight rotor and resistor plugs (if you have too much radio interference with non-resistor plugs).

Thanks JWL, I also heard about the resistor rotors causing trouble. Anybody know a standard or echlin part number for the non-resistor rotor?
From a 1953 pontiac chieftan with a V8 I see standard DR-142 is a rotor with no resistor, but I can't really see online if the critical dimensions are OK.

My resistor rotor failed. Having no idea this could be a problem, it was only by accident that the problem was figured out, because I would otherwise just look at the end of the rotor. But the resistor is a little carbon rod sitting in the body of the rotor that can, for whatever reason, break, fall out, or otherwise disappear. Then there is no connection. I keep a spare rotor but would like to know the part # for the non-resistor rotor, as well as the part #'s for resistor plugs.