GMC 302 motor. Mechanical advance. 2 bbl carb (Holley I think)

I've read a few posts that suggest setting timing with a vacuum guage so that you have the highest vacuum at the highest RPM. I tried this today. The RPM and vacuum (18 lbs) stayed the same over probably an inch of movement of the distributor. After the initial setting it pinged so I turned the distributor clockwise until it stopped. It took about four tries and I probably rotated it 1/2 inch.

Am I doing this right? I don't see how you can set the timing with a vacuum guage when the vacuum and RPM stay the same over probably 20 degrees of rotation of the distributor.