The distributor has 2 ways to advance. First thing to know is the reason that it is needed. The engine will have the best performance when it is about 36 degrees. That is where the power is maximized. However, at that setting the engine would be hard to start and idle rough. Then there is emmissions to think about. The lower the timming is is better for that. Side note: a motor in a boat doesn't have adjusting distributors because there isn't any load on it when it is in gear at idle.
That being said, the vacuum advance is a way for the distributor to advance as soon as you step on the gas (ported vac). This brings it closer to the 36 degrees (normally less for stock set-ups) right away. As the motor biulds rpms, the mechanical advance takes over an keeps the advance up in the perforance range even after the vacuum drops off when you let up on the gas pedal.
The answer to your question is a properly working/setup distributor will have more power then one with no vacuum advance.
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Brian - NCM Lifetime Member
73 coupe L48, Flat-top pistons, Performer RPM Heads, Crane Cam and roller rockers, Holley 650 vac sec. Performer intake,
3.55 gear BTO 200-4R trans,
Leather seats, Seatbelt Plus 3point seatbelts, Pioneer CD player
Magnaflow Exhuast System
Dewitt radiator and dual electric fans
Borgeson Steering box