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If it has flattened a lobe on the cam, you need to rebuild the whole thing. All that metal from the lobe has circulated throughout the oil system now. But all in all, the 4.3 V-6 is about the best V-6 engine I've ever owned. I had one in a 1/2 ton long bed and it was a great little engine as long as I didn't try to run like it was a v-8. If it was doing a good job before, I'd spend the money to fix what ya got. It'll likely cost more to swap to something else when you factor in the added parts to do a swap of some sort.
8-12 degrees before(retarded?)? hmmmmm.....That is a different take on it than what Ive been told. I have done the spark plug test(removing one wire at a time) and all of them seem to make a different equally. I will say the truck idles fine, and idles good but under load is when all these problems(see above) occur.
what if the vacuum on the side of the distributor is hitting the tube(with vacuum coming from it) when I spin it that far CCW? So I need to do what to correct this if it's the problem? Also shouldn't the #1 terminal on the distributor be close to being lined up with the center of the motor?