A rule of thumb for manifold vacuum is a loss of 1" Hg per thousand feet above sea level. With that, you could expect 3.5" Hg less than the 17-21 level given. Even with the expected loss from altitude, your level of 15.5" Hg seems low. Make sure your initial timing is set correctly, and the idle speed is 550-600 RPM after setting the timing. The idea that your gauge is off is equally valid, but there isn't a good way to check that without a second gauge or a calibration set-up.

Harvester