I'm trying to verify which ignition system I have, Thunderbolt IV or V. I think it's a V but what is throwing me off is the lack of a knock sensor.
This is what I know...
Only two wires coming out of the distributor housing(no module attached to the housing), both wires are white, one has a red tracer and the other a green tracer. They both to this module P/N 131800-7071 which I believe is only used on the Thunderbolt V ignition, correct?

It also has this purple with white tracer timing lead.
This tells me that I have the Thunderbolt V ignition and that you ground this lead to retain base ignition timing, correct? I believe that I read on this forum that knock sensors are "if equipped" so even though I may have the Thunderbolt V, it's acceptable that I don't have a knock sensor?
The other important question I have is...what does locking it in base timing actually do?? I'm asking because since I didn't 100% know which system I had, I checked timing with and without the timing lead grounded and with it grounded the timing still advanced with engine rpm and yes, I did ground it before turning the ignition on.
Your guidance is really appreciated. Thanks
This is what I know...
Only two wires coming out of the distributor housing(no module attached to the housing), both wires are white, one has a red tracer and the other a green tracer. They both to this module P/N 131800-7071 which I believe is only used on the Thunderbolt V ignition, correct?

It also has this purple with white tracer timing lead.

This tells me that I have the Thunderbolt V ignition and that you ground this lead to retain base ignition timing, correct? I believe that I read on this forum that knock sensors are "if equipped" so even though I may have the Thunderbolt V, it's acceptable that I don't have a knock sensor?
The other important question I have is...what does locking it in base timing actually do?? I'm asking because since I didn't 100% know which system I had, I checked timing with and without the timing lead grounded and with it grounded the timing still advanced with engine rpm and yes, I did ground it before turning the ignition on.
Your guidance is really appreciated. Thanks