If the cam is installed upside down via crank and cam dot alignment then the engine will run sort of. A dist can be installed correctly otherwise anyplace you wish in a 360 degree arc.

His vacuum meter readings match exactly what is said on my meter in that range for late valve timing.

I have seen this 2 times before.
It is true you can check cly for cly this timing as you say, or simply check the marks once that front cover is off.

In my opinion he has late valve timing, and pretty much the reading he has proves it.

On some engines if you want more torque than horsepower it is possible to dial in the cam retarded to get more torque.

My bet with out seeing first hand is that the cam is installed incorrectly, by erro of one sort or another. it might be the dots are wrong, ot the intaller didn't line these up correctly and place the dots close rather than in line and as far apart as possible. With out seeing the engine first hand this is simply my best guess.

IF it was mine I would have the valves loosened to total slack and have a look athe timing gears. Mac