Darren,
To set the timing on a 5 L;
1st unplug the spout connector[black 1/2" shorting clip located about 10" from distributor in wiring]
Have engine warm and set timing normally. with your higher compression you need to make sure you have a 180 thermostat installed, not the 195* factory one.
Set timing at 12* BTDC
stop engine, put spout connecter back in.
Perry.