Ok Chip ,I just pulled the distributer on my 261 to replace the points.The engine Has a Howards M4F cam I installed about 5 years and 15 thousand miles ago.Looked down the hole of horrors, I can see a shiney area on the top of the pump. My big thick finger can't feel any wear though. The distributer gear has very slight wear right in the middle of the gear.All is well I guess. Sherlock Holmes says "eliminate the impossible and what is left must be the truth"