Yes, I think you are looking at the grease cup, and I see how you might have thought it had to do with the octane selector; I hadn't made that connection. The cup screws onto a fitting that is screwed into the side of the distributor housing, below the 'bowl,' so to speak. In the picture in your shop manual, it looks like the cup is located behind the vacuum advance chamber- it is, but it is lower in the housing. Unscrew the cup- it should have remnants of grease inside. Clean it up, fill it with fresh grease and screw it back on- although it might be a good idea to clean the other part of the fitting as well. A piece of wire should work well enough for that.
Harvester
