help 1964 Slant 6 tune ups specs

Sounds like what you've got is a conventional (points type) distributor into which has been installed a Pertronix electronic conversion. The plastic wheel contains six magnets; if you lift it out of the distributor you'll find it's sitting atop a hexagonal metal cam which used to bump breaker points open before the points were replaced with the magnetic switch and the cam was covered with the magnet wheel.