timing issues

[basketranger]

alright good folk. 93 3.0 started "pinging" three weeks ago. finally decided with 140,000 miles change the chain and gear, also found timing 6 degrees out (retarded) so i replaced. now here is my situation went above and beyond on verifying proper install of chain pulled valve cover watched valves (intake #1 close then insert screwdriver to cylinder rotated to TDC then checked rotor in cap all before setting chain. now it still pings and is now 8 degrees out (retarded) will cold idle for a few moments then starts spitting and sputtering. after trying to adjust timing no difference. I think I know what i must do but want a second opinion.
Thank You!

 

[basketranger]

mine had a tad over an inch of slack. plugs replaced 25-2600 miles ago along with wires cap and rotor. will check flow sensor tomorrow am and fill up with different supplier of gas today. im not the original owner, had to replace tranny when i got her. What is the likely hood of a balancer being bad, visual inspection says she is good no signs of twisting on itself.