I am really curious as to how you actually do your static timing at full advance. I'm not offering an opinion or comment. Just asking how you do it. It works for you, so that's good enough.
You said you "static time at full advance" and with "34 degrees total advance". Total advance is; initial advance "plus" mechanical advance "plus" vacuum advance? I'm trying to visualize how you actually do this. For the vacuum advance, do you use a vacuum pump or hold it by hand? For the mechanical advance, do you hold the weights out and turn the advance mechanism? Then, I assume, you turn the distributor to the position that the timing light flashes?
I don't understand why the one timing light would not flash, or that is flash but not at the right point.
I have always static timed a new engine or when the distributor has been out, but only for initial advance. I have used several different timing lights or a spare spark plug on the plug wire and never been more than a couple degrees off when I fired it up. That is with points and HEI, but never tried a Pertronix.
If you want to set the timing at full advance, wouldn't it be easier and more accurate to do it dynamically? I'm not real fond of revving an engine up like that, but I have done it just to see at what rpm max advance is. Good thing I don't own a Porsche 911. I wouldn't have the stomach to set the timing. I understand that they are dynamically timed for total advance at 6000RPM.