@VCheng
Once there was this timing issue and I did a DIY to resolve it. I took the whole distributor out, aligned the timing marks on the crank pulley and then installed the distributor. At that time I successfully did it and the problem was almost gone.
This time I also suspected the same thing and tried to adjust it myself. but this time couldn't do it properly.
My mechanic is a good person and car is going to him since we bought it. But as he is an old fellow so most of the times when we say that car is not going fast, he says what else you want from such an old machine :D.
One thing which bothers me is why car behaves as if battery is low when timing is advanced, distributor is rotated clockwise. Its seems that the self starter is stuck somewhere but as soon as we rotate the distributor anti-clockwise, the self starter performs well but the pick is reduced.
thanks and other members are also requested to give their input.