Yes,take the hose off the vacuum advance and plug it,then set the timing..
That port on the carb sounds like the correct one--but there should be vacuum present at idle..its possible that port might be a ported one though,see if there is any suction there when you give it a quick rev,if so,then its a ported vacuum source,possibly for an EGR valve or charcoal canister...
The carb's base gasket sometimes blocks off some vacuum passages on the base of the carb--some are intended to be blocked,others are not,and using the wrong gasket can cause issues..
In your case maybe using a manifold port with full vacuum at idle is best,since we do not know if the carb is original,or has the right base gasket,etc..the distributor wont care as long as its manifold vacuum..