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Larry,
If you still have the original 236 can why not try it to see if it pings, the Paragon replacement may not be in spec. My brother has a 1965 L79 with the 236 can and the engine has the same slight ping under load until the rpm's increase, his inital timing is at 10 degrees.
I would verify the centrifugal advance curve with your dial back light and make sure it's in spec, then verify the paragon vacuum advance can to the spec. If all checks out, the 355 vacuum can will work on your car because it's fully deployed with 12 inches vacuum and your L79 should make about 14 inches vacuum. This may be just enough to stop the ping without reducing your inital timing. Sorry for the long post.
If you still have the original 236 can why not try it to see if it pings, the Paragon replacement may not be in spec. My brother has a 1965 L79 with the 236 can and the engine has the same slight ping under load until the rpm's increase, his inital timing is at 10 degrees.
I would verify the centrifugal advance curve with your dial back light and make sure it's in spec, then verify the paragon vacuum advance can to the spec. If all checks out, the 355 vacuum can will work on your car because it's fully deployed with 12 inches vacuum and your L79 should make about 14 inches vacuum. This may be just enough to stop the ping without reducing your inital timing. Sorry for the long post.