Jerk Racer, I hope you don't mind that I borrowed your pic:

thats the crank angle sensor, tells the computer where the rotors are in relation to tdc. lets it know when to fire the plugs. use it to adjust your timing

How exactly do i adjust my timing

Click here and then choose the year of your car. Copy this whole manual to your PC, it's well worth it. I have a printed copy in my bathroom that is my reading material when I'm in the "office"

Thank You Much what is timing under do you know?

cool, satisfying curiosity is fun!

yes i just need to know what Timing is listed under in that Site

"01_ENGINE.PDF", around page 7-8.

thank you much

Hooray for the distributor-less distributor!