it was starting to run a little ragged so I figured a tune up was in order....So I installed new plugs, while the plugs were out I thought I would also adjust the valves. I was somewhat surprised at how far off some of the adjustments were but I attributed that to sloppiness on my part. So I hook up the tach and timing light and start the engine. Now the valves are quit noising. I let it warm up and the idle drop down and I can't find the timing mark with my light. After a bunch of checking and head scratching I see the that timing marks are 2-3 inches ahead of the pointer (like it would way advanced, I think).
The pressure goes by my finger before the marks on the dampener reaches the timing pointer. The car had been running fairly well, adequate power, no pinging or over heating.
My question is it possible for outer ring of the dampener to shift or change and if so it there a means for testing this or is it possible for the timing chain to jump teeth? Are the timing sets all metal or do they have a fiber covering that can wear and possibly allow the chain to jump.
I am hoping you guys can help me figure this out.
Thanks
Jeff
Jeff, can you explain how it was running ragged? hard to start? decreased power? had the ignition been intermittent or something? I would imagine that the best thing to do would be to examine those old spark plugs that had 10K miles on them and see how they look, oil fouling? wet? gasoline smell? burnt orange? dark brown? etc. Reading plugs will tell you a lot about your ignition. There are some good charts on the internet if you google it.
It does sound like the dampener rubber ring has allowed the outer circumference to "slip" around, but this would not have caused the "run a little ragged" part. Also, I would expect that if the engine would have jumped time, you would have found the decrease in performance immediately. Personally, I have owned several Y block powered cars and trucks and have never had one jump time. By the way, the only gears I have ever seen are all metal. (that doesn't the count the Overhead Cam setup I saw at Dennis Carpenter's museum, lol!!!)

IIRC, Ted Eaton, or another Y blocker on this site may have a CAD diagram of the angle measurement of the timing TDC on the outer ring in relation to the key way on the dampener assembly. I would suggest removing the assembly and checking it over.
Did you have a chance to do a compression test on your cylinders as well? Any increase in smoke through the tail pipes?
Daniel JessupLancaster, California
aka "The Hot Rod Reverend" 
check out the 1955 Ford Fairlane build at www.hotrodreverend.com