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Hi Grant,
If you have a Harbor Freight nearby, you can get a timing light for pretty cheap (under $30, I think). To answer the mileage question, I got 24mpg over the drive from San Francisco to Seattle... I think my hand throttle (connected to a SureStart) was pulled out a bit since the cable snapped, and we were going up to about 5000 feet elevation, so I think that affects fuel economy too.
I'm running a used SPICA from APE and have a stock engine with a head with a relatively fresh valve job on it and 115K miles.
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Chris Keen
'77 spider veloce - since 1991
'79 sprint veloce - since 2005
'97 Golf veloce  - since 1997
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