I'm assuming you have your vacuum advance disconnected and plugged when you're setting your base timing; you can't do it with the vacuum advance operating.
Do you know that the balancer and the timing cover are both original? The '69 and later balancers had the timing index mark shifted 9 degrees counterclockwise from the keyway, and the timing tab on the cover was moved to match. If it has a pre-'69 timing cover on it, what appears to be 14/15 degrees is actually 23/24 degrees, way over-advanced for base timing, which will cause the symptoms you describe.
I'd get a piston stop and verify exact #1 TDC vs. the index mark and its lineup with the "0" mark on the cover tab just to be sure you don't have either a slipped balancer outer ring or the wrong timing cover tab. If that checks out OK, you'll have a solid baseline to work from, and then it's time to look at the distributor.