Initial timing
"ping" or gurgle is most likely to be noticed when the engine is fully heat soaked. It is obviously not ideal but only under full load (upper gears, full or near full throttle, will it cause severe damage.
8 degrees at 550 rpm? or 8 degrees at 800 rpm? The rpm can make a big difference.
For example, the distributors specs above allow advance to begin as low as 650 rpm and be as much a 5ยบ advanced at 950 rpm.