Please Excuse the old coils and condensers, those have been replaced. Yes, it is probably similar to a KH7 of which I have not work on either,
This motor as you advance/retard the carb’s throttle, it also advances and retards the timing via two gears. You can change the position of the timing by the placement of where the gears mesh. I basically closed the throttle down and that is where I placed the beginning of the advance. I could very well place the gear so it is at the furthest advance when the throttle is fully open and the gap of the points are fully open and the Piston is just before TDC (perhaps 20 degrees).
There must be a procedure and timing plate/tool to set the timing correctly.