2600 at 70 mph. I have not checked the timing curve. As far as the balancer slipping,maybe but if I time it by ear I really cant go any slower because it is sluggish. It has stock heads with some exhaust valve work for the cam, a cast iron 4 barrel intake, bored 60 over and a 600 edelbrock carb and headman headers. Yes it is a good engine for a 79 bronco. It tows my 24 foot camper well
I would check initial, total, and what RPM you get to total. Could be a broken spring, could be that you have too much advance, who knows
One point though, although you are right that being sluggish "by ear" can indicate too little initial, it doesn't tell you what total is doing. That's why we recurve, stock distributors are meant to have a ton of advance. If you have access to a dial back light, mark TDC clearly, and check every 250 RPM or so until it stops advancing.