It's been a long time since I set one (actually two on dual points) but .017 is correct. Closer is better than more open since that increases dwell (time for the field to build in the coil). Be sure to use a clean feeler guage, no oil! Also, be sure you are on top of the lobe when you set them. If the distributer is out of the car no problem but if it isnstalled take you time to get it right.