It just doesn't run well at all, even stalls at this setting. Turning dizzy counterclockwise (advances spark?) runs much better and it seems I can turn it quite a lot and it still runs, seemingly well, but I'm sure not good for engine. Am I getting the settings correct?

Are you still fuel injected? Did you remove and plug the retard too? Have you set the dwell at 47 degrees? Are the valves properly adjusted? All these things need to be within specs or timing don't do crap.

Yes. All OEM car. FI works great, so why mess with it? I just replaced the points, set dwell to ~47 degrees (might be 46 <grin>) (pretty new Accutron analog meter) and went to check timing. I did remove and plug both adv/ret hoses to the dizzy. Engine speeds up a little when they are removed. Still runs at 27 BTDC until I reattach vac, then just stalls. I will say that to get the 27 mark on the impeller requires twisting dizzy pretty far clockwise, such that the #1 lead is almost to front of engine.

Err, you sure your on the 27 deg mark? A lot of them were only marked with TDC if i remember correctly. This might help..
http://www.pelicanparts.com/techarticles/9.../914_timing.htm

Yes, I read that many times over the years (I've donated lots of money to Pelican <grin>) and have the Haynes book, too. My impeller is marked by PO (or some mechanic along the way) so they are visible withOUT mirror or acrobatics. I will find TDC and use the template to confirm that the marking I'm looking at is indeed 27 deg.

Make sure the mechanical advance is working in the dizzy as well. The rotor should move a few degrees and snap back if let go. There is a felt under the rotor to place a few drops of sewing machine oil in. If the advance is stuck one way or the other ( have seen a few do this after sitting a while), it makes setting timing impossible.

I assume your timing light is the older standard one without any advance setting knobs. Right?