U can set the reluctor gap with a business card...
Just move the pickup in close to the reluctor but not touching, insert the business card to check for adequate clearance, rotate the distributor to make sure everything kleers..

Note that problems can arise when the gap is too wide, and the ECU box will not fire but very few issues when set on the close side..

Also the point of kleening the bulkhead connections is pertinent...
After 40 years the connections get krusty and oxidized.. Pull the connector apart, kleen with a small wire brush, slightly crimp down titer the female tab connector, coat with dia-lectric grease and reconnect...

Just my $0.02...