Matt,
The pinging is probably related to timing, at least that is my experience 99% of the time. Well, if you have serious carbon buildup on piston crowns and head that can also do it, but it would have to be pretty bad (and the engine may also run on after shutting it off, if this is the case). I would suggest making sure the dwell is spot-on, once that is perfect then go to timing. Depending on the history your engine has (timing chain condition, offset keys, sprocket wear, functioning of the advance mechanism, patency of vacuum line, and the like) the best timing may not actually be "by the book" with your timing light. Pinging is bad bad bad for the engine, you should correct asap. I would try setting the distributor by "feel" and "sound" and you may acheieve better results than trying to hit the RPM/timing marks exactly.
Just my 2 cents,
Best,
g
'64 230sl, fully sorted out...ooops, spoke too soon