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Setting the static injection timing simply involves aligning the mark on the cover with the mark on the pump housing, as in the diagram below. To properly set the dynamic (engine running) timing requires special equipment. I'll give you a copy of the procedure below. If you haven't done so, by far the best performance imporovement you can obtain it by adding a turbocharger to this engine. Steve
Setting Injection Timing-Dynamic Timing
Note: When checking or setting dynamic injection timing on the 7.3L engine it is mandatory that the engine be stabilized at normal operating temperature of 89°C-100°C (192°F-212°F). This temperature is needed to ensure proper fuel ignition in the precombustion chambers.
Note: To prevent incorrect readings, ensure that vibration damper is clean and free of foreign debris and rust scale. If required, sand the area to remove rust and apply a light coat of paint to the area.
Note: Activating cold start advance solenoid can result in engine speed increase. Adjust throttle control to attain 2000 rpm, if required.