When I was an impoverished college student and my 65 Barracuda still had its original 273, with close to 100,000 miles on it, I realized that it was getting pretty doggy. Told Dad, said I think something is wrong. Nah, he said, it just feels slow next to the 440 in his 62 Dodge. Thought about it a day or two and decided Dad didn't know what he was talking about. So I spent some of my meager funds to buy a timing light. Turns out that instead of the initial advance being 10 degrees BTC, initial timing in that little 273 was 20 degrees after top center. Added the missing 30 degrees back in, felt like a new motor.
I can't imagine not having a timing light. I'd say just buy one. They last a long time, and you will need it again and again if you stay in this hobby.