Re: Need help with TIMING.
Looking at your picture, you are setting the timing about 5° retarded, that is, after TDC. These engines turn clockwise from the front perspective, so the numbers on the timing indicator above the 0° are all advance numbers, before TDC.
Try it set to 0°, drive it and listen for ignition pinging on acceleration. If not, set it to 5° BTDC and listen for pinging then. If you reach a point where it pings noticably on acceleration, back it down a couple degrees until the ping goes away and run it there.
I think the reason JAlves said what he did about the accuracy of the timing mark is because an old harmonic balancer can sometimes slip the weight after the rubber isolator ring deteriorates. When this happens the timing indicator line will be off.
With your Pertronix ignition module you can ignore the advice about the gap and dwell. Just reset the idle after you are satified with the timing.
'70 CJ5 the Yellow Barn Find. V6, T14, D18, Warn OD, D27, Flanged D44 W/Trak-Lok, 4.88.
'69 CJ5, still undergoing a rebuild. V6, SM465, D18 W/TerraLow, D27, D44 W/LockRite, 4.88
'66 CJ5, a Pile O'Parts. F134, T90, D18, D27 W/Powr-Lok, D44 4.27.