Anybody here use a non iductive,regular 12v timing light?Are they as accruate as an iductive type?Any idea how they hook up?

They hook up by putting a connector between the spark plug wire and the spark plug which allows the light to directly sense the voltage to the plug. I think that the two types are equally accurate. The inductive is more convenient to use.

When setting the inital timing,on the timing tab am I looking at "before" or "after"?

Depends on if you want to advance it or retard it

Before is advancing and after is retarding.