Help with timing pointer

[Norris McCarty]

I’ve a new to me 40 Ford with a 53 Merc. It has a Hunt distributor. I’m trying to check the timing with a light.
It appears that the pointer is broken off but I can obviously see where it should be.
Should the the pointer(or where it should be) point directly to the line/mark on the crank pulley?
I don’t have a feel for how much retard or advance I should be running at idle....about 700rpm. The Hunt distributor has should have 20 degrees advance at 3000rpm.
I’m use to running a crank pulley with the degrees marked.
The picture shows timing at idle.
Thanks
Norris