old school testing..
to test your advance:.. forget the fsm... plug the vacuum line off, watching timing mark on pulley with timing light, rev engine up to about 1000 rpm watching the timing mark, it should increase with revs if it does its fine. remove the vacuum line off the controller while holding the revs at about 1000 rpm push the vacuum line onto the vacuum controller the timing mark should raise again.
to test the vacuum controller pull the hose of the manifold which goes to the controller stick it in your gob and suck on it, if it works like a straw then the controller is stuffed. The fsm can cover various models and yours may not be the same as the book, it would not run if there was a major problem.
my controller is stuffed and blocked off, I run the timing set to static 12-15 deg at Idle and it purrs and doesn't have any engine ping
HTH