An Olds 350 is a totally different design, very similar other than bore size to the Oldsmobile designed short deck or small block V8's, 260 through 403. The 400, 425 and 455 tall deck or big block Oldsmobile V8's are very similar but have 3" mains, 1.3" taller deck requiring a wider intake manifold. The cap and rotor are the only thing that will interchange. But your 72 motor had a different points cap and rotor factory. Just order a cap and rotor for a 307. You can use a 307 oil filter but it is small. I usually use the Wix 51258 or Napa Gold 1258 or Hastings LF222 oil filters. Good chance either the big dish factory pistons were used with new rings or the short on height big dish replacement pistons were used. If that is the case, you have 8 to 1 compression or less. I would add at least 5, maybe 8 degrees more timing. Yes, the 0 is at the bottom, the 20 is at the top. Many things are different on the Olds V8 vs a chevy V8. You can actually fit more Ford parts on your Olds V8 than chevy parts.