Choco, with respect to those images of the dizzy...with the breaker plate removed, can you confirm that the governor weights are not rusted in place but rather can still pivot?
Under centrifugal force (as a result of the rotation of the dizzy shaft), the weights and springs work together to advance/retard the 'mechanical' component of timing. When the centrifugal force is sufficient for the weight to pull against a spring, it will 'open' (i.e. fling towards the wall of the dizzy) by overcoming the spring tension...this results in a rotation of the breaker plate and ultimately an advance in timing.
If the weights are rusted and do not pivot freely, then they will not 'open'.
You can clean that all down there by spraying some Electrical Cleaner spray to get all that funky stuff out of there. Just make sure that it is all dry before putting the dizzy back together.
Also, in this picture (see below), it looks like the plastic stop pin bushing is gone...at least it appears to be gone in the image....
The arrow is pointing to the stop pin, but i don't see the bushing around it.
You can order an aluminum bushing with close-to-OEM dimensions that can be fit around the stop pin...see post #13 for information and link to website to get online:
https://forum.ih8mud.com/threads/distributor-stop-pin-bushing-dimensions.784670/
Having a stop pin bushing will set the correct 'throw' to the weights and improve your odds of having the correct ignition timing advance curve (i.e. the right spark at the right time).
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