Currently my car is set up with a 0 231 153 003 JFR4.
Bosch Classic site suggests
0 231 153 003 was replaced by 0 231 170 085
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Skandix site suggests
Distributor, Ignition 0 231 153 003 Bosch JFR4
Volvo 120 130 220, P1800, PV
applicable for:
Model
Volvo 120, 130, 220 restricted on: model years, engine type
Volvo P1800 restricted on: model years, engine type
Volvo PV544 restricted on: model years, engine type
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My guess was this distributor was for "high performance" engines...pedal to the metal applications...myself, I'd replace it with a vacuum/mechanical based distributor if this one failed. Those timing charts I cited in a Volvo manual gives a good idea where timing advance should be. I don't have time to review them, but I'd look them over. Chances are, your engine is not upto OEMs specs today. Somebody may have installed your distributor years ago for some reason. Matching OEM timing specs for a given engine is what is relevant.
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On another note, anyone using a point/condensor setup should consider pitching them, and consider these two eBay ads
HERE and
HERE
I have not researched this topic, but if I owned an engine with points, I would pitch them for an electrical device like these. One seller says, 12 Volt only, and another ad says, with right-hand points only, so do your homework.