This is how it should look with the base ignition timing set to 10 degrees BTDC, with the engine at TDC.
Please excuse the ugly grime everywhere, picture was taken before I tore mine down, I'm thinking on putting together a sticky about EXACTLY what the CPS looks like (including where the bolt should be in the eccentric hole of the CPS) with nice, clean, new rebuilt parts, its just too damn cold to take pictures now. Stay tuned.