on my 73 power wagon 318. if the distributor was way too far advanced , to the point where its hard to start will this cause something that sounds like a knock?

 

Yes, play with the timing some more until you find a better spot, if you go to where the engine knocks you've advanced it too far, also when you time it, time it with the fuel in it you'll be running ex. Regular, regular plus etc, if you time it with 91 octane, and usually run it on 87 then you might here a little knocking noise.