Distributor adjustment at limit

Continuing my efforts to get my new 73 Eldorado running properly.
The bike would start fine on choke, but it wouldn’t idle too smoothly, and after flipping the chokes off, it wouldn’t idle well at all. I had stripped and cleaned the carbs but still the problems persisted.
And maybe worse, when i tried to balance the carbs with a Carbtune, I realised that although the left cylinder was getting hot, I was still able to touch the right cylinder.

So today I went back to what I should have done and checked the timing, with a static timing light.
Trouble is, the distributor is right at its limit of adjustment when I get the light to come on. (Left cylinder TDC)
Does this mean that perhaps the distributor drive shaft is perhaps a tooth off and I need to remove it and shift it slightly ?
https://www.thisoldtractor.com/moto_guzzi_loopframe_distributor_installation.html

Attaching a photo.
This is the position when my timing light comes on, with the cam lobe just starting to open the points.
Is this correct ?

Also, while searching for info here about my problems, I came across this thread, Sick old lady - #67 by Exmembers.
Maybe it’s a problem with a coil ?

Loop frame bikes only have one coil, so I think if it was an ignition problem it would affect both cylinders. Obviously unless it’s in the plug leads or plugs.
What are you using for timing marks? If it’s the notches on the front pulley, it may be worth checking it’s been put on in the right position. The bolt pattern allows it to be fitted 120 or 240 degrees out.

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Thanks,

Finally got some time to look at it this week.
Timing is okay as pulley marks align with TDC on the piston, and a previous owner has painted them with white marks.

Bike is running, but with a rough idle and occasionally just conks out.
This evening I tested the resistance on the coil and it’s varying between 1.7 and 2 ohms.
Think I’ll just get a new coil as that doesn’t sound good.
Had planned new plug wires too so might as well replace all that in one go.
I’ve a feeling the lead to the right cylinder plug is not in the best shape.
Looks like I’ll have to make my own leads as nobody seems to sell them ready made.

Bike has a Bosch blue coil in it, but they are seemingly not available anywhere.
Checked a few air-cooled VW shops too, (I used to own a Karmann Ghia), and they all have the Bosch blue coil at crazy prices, but all out of stock.
Guess I’ll go with an alternative.

for custom leads. they do coils too.
I have used them in the past but have no other link to them
Leads are really easy to make up watch out for the coil resistance for the unit you purchase, may not be compatible. Blue Bosch were ok for my loop, got them from VW spares.

Thanks.
I just ordered all the bits to make my own leads this morning from Gutsibits.
Wish I’d seen your link before that.

Bosch blue coils are out of stock everywhere, so I’ll have to go with something else.
Pertronix Flame Thrower seems to get good reviews for old Guzzi’s.