" I will clean them (sandpaper) and reset"
Not a good idea.
You were advised to use sandpaper if they were OLD. That's because if you use sandpaper or a file on new points, they will then be old because you will have removed the thin metallic coating.
Just reset the gap.
" My plan is the pull the distributor"
Again, not a good idea. Listen to JMOR and leave the distributor alone. You do not need to remove it to set the timing or the points.
" As Dad rebuilt the engine it is possible that the flywheel was replaced for some reason"
That's highly unlikely. There is nothing to break on a flywheel. They get resurfaced & have ring gears replaced.
" so now fuel is coming out of the carb where the air intake is "
All the time or just when you try to start it?
Re timing, remove the #1 spark plug. (removing all of them makes the job a bit easier) Ignition off, place your thumb over the #1 spark plug hole and crank slowly until compression is felt. Continue to crank the engine until you see the timing mark, 0* (top dead center) on the flywheel through the timing hole in the right side of the bell housing. Use chalk on the flywheel to exactly align the 4 degree mark with the pointer. Loosen the distributor hold down bolt. Turn the distributor housing counter clockwise until the points are closed. Put the cap on & double check the plug wires, 1-2-4-3, CCW. Then, remove the primary wire from the side of the distributor (or at the coil, whichever is easier) Put one lead of your VOM (set on resistance) on the stud on the side of the distributor & the other on the block or other good ground. Slowly turn the distributor. The needle will move as the points close & then open. Find the exact spot just as the points open & then tighten down the distributor.
Now check your work (and the dynamic timing) w/ a light.
If it won't idle below 500 rpm (400 is better) don't bother w/ a light.
If it idles ok, make 3 marks w/ chalk or white paint on the flywheel:
4*
10*
17*
Start the engine.
At idle, the light should flash & the marker should line up exactly at 4* if you did the static timing correctly.
If not, loosen the distributor & turn it until the marks line up. It should take very little adjustment.
Once you've got that done, increase the engine speed to 1200 rpms. The light should flash & the marker should line up w/ the 10* mark. Then, increase the rpms to 2000 & look for the marker to align w/ the 17* mark.
Close counts on the advanced timing. A degree or 2 either way is ok. But, no movement or 5* or more off means you have an advance weight problem. You don't adjust the distributor to fix that.
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