I've done static timing on other cars... here's what I did:
Get the engine to where you want it to fire (~10BTDC) on #1 firing
Loosen the distributor body (bolt is located at the base of the dist toward the intake manifold
Remove the #1 plug wire, put it VERY close to, but not touching, ground
Rotate the distributor back and forth, notice the spark from the plug wire.
Retard the timing (the opposite direction from where the vac adv canister "points")
Advance it again, SLOWLY. As soon as you see the spark, that's it; tighten the bolt down.

Be careful not to electrocute yourself, do not ground it near fuel components, no smoking, do not run with scissors, etc.

I know enough about the CIS to be damn glad my '80 doesn't have it:-)

Kyle
--
1980 242GT 197K, 1990 744Ti 113K