^^^ This.
I don't like that your tab and the delay timing light disagree. There's something goofy in all this.
I don't like it either. I've tried to use light #'s only.
Here's my recommendation, reviewing all of the above:
1) Find TDC and get an accurate set of marks on the timing wheel and polish up the tab so you can see WTF your timing really is.
The one mark is visible, and the tab is polished.
2) Limit the vac advance to 12 to 15 degrees. 20 is too much. That may be the whole trouble, because it will knock when you get on it until the vac advance responds by backing off.
I will, but we've been there. Was most recently at 11. I know it not 15. I'm working on it.
3) Set base timing for now to 8 degrees (ONCE YOU KNOW YOU HAVE AN ACCURATE READING).
This has never been done, but has been suggested. OK. Will do.
4) Get the A/FR meter and set the needles/jets for cruise and power circuits first, then adjust the idle mixture. You should have something like 13 idle, 14.5 cruise, 13.5 power, 12.5 secondaries.
This will take a few days.
5) Now go back and set the base timing higher 2 degrees at a time, testing for knock each time. When/if you get to 16* BTDC base timing, stop there.
BTW, detonation (pre-ignition, knocking) sounds like you are shaking a 1# coffee can with a 1/4" steel ball bearing in it.
This sounds like a clatter, a rookie would think it might be valve rocker noise.
The reason our recommendations are all over the map is a lack of instrumentation: no reliable timing measurement, no A/FR readings.
I thought I just spent $100 on a light to get a reliable timing reading. Very frustrating.
You give us those, and MO and I will agree on everything.