Yes it sounds like your timing is retarded. For optimum performance out of your b16 i'd set the timing at 16 degrees or slightly under. If you go to much over, you risk detonation. It should take you about ten minutes if you can borrow a timing light off someone.
-loosen the bolts on your dizzy just enough so it moves
-jump the service connector pins (same ones you use to check a CEL w/o a machine)
-set the timing light at 16 degrees
-start your car and wait for the idle to come down
-aim the timing light at the pulley
-watch for TDC to line up with the tabs on the block as you very slowly advance the timing by shifting the dizzy towards the front of the car.
Hopefully thats all it was, best of luck.