I had the same problem with my 3T when I got it, and have been playing with my timing for 2 years... finally last weekend we managed to get rid of most of the pinging, but its coming out soon so I dont really car anymore....
Since you have done plugs, rotor and cap, whats left? It could still be the timing somewhere, but what else is involved in this? Spark plug leads (check resistance with meters), timing chain/gears/guides could be too flogged out - if this is DOHC engine, you may be able to get an idea of the condition these parts are in by taking off your timing cover. You can also double check the components in your dizzy to see if they are throwing your timing - is it old school dizzy or electronic? It its old school, check points condition and gap or just replace as theyre pretty cheap, replace the condenser unit, check for play in the dizzy shaft (side to side) there must be no play at all in this.
Then we can also go into the internals of the engine - do you know the history of your engine? Has someone built it to non-standard specs, as having too high compression with low octane fuel = detonation which i guess imitates rough timing? ( I have never heard an engine actually detonating, only know what it is and what happens when it does it). Maybe try some octane boost in your next tank and see if it settles down a bit?
Knowing more about your engine in relation to the above questions can help us understand where the problem lies so we can help you fix it!! Good Luck
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