Been awhile since I've messed with OBD1, but Google shows that as a fuel code.
As far as timing, you'll need a timing light. You can rent one, but I would bet buying one isn't more than 30 bucks. Hook the timing light clamp around the #1 plug wire, start the engine and shine the light at your crankshaft. It will strobe and show you where your ignition timing is. There should be a sticker on the underside of the hood that tells you where your timing should be. If it's not there pick up a service manual for instructions. A lot of vehicles require your advance to be disconnected while you set base timing. Being that the distributor was messed with, you really should reset the timing. YouTube should have a video on this as well.