As stated, vacuum advance is for part throttle cruising.. basically its a fuel consumption improvement device. At a steady cruise at around 110 kph it's worth a 30% (yes 30) improvement in fuel consumption for my 1330. 110 in an 850 is no longer "part throttle" (BTDT) so I guess your not going to see much... Your 850 will be quite happy cruising at 100kph... as long as you avoid hills

(As a student in the 60s I did several Sydney/FNQ trips in my 850 - all without issue (except for the flattened butt).
The VA allows a leaner mixture when cruising so might make some improvement in your previously mentioned "overfuelling" issue.
Vac advance units are pretty generic... mine was made for a 90s Ford Escort. You just need to know what advance you need it to provide and the vacuum required to provide same. Specs are (usually) stamped on the actual unit (I think mine is all in at 8psi). Probably cheaper to buy a new unit than a test kit. Maybe one of the local shops has a dizzy test machine (pretty old fashioned these daze) and will let you run yours up. It only takes a few minutes to check all the moving bits out.
You can get a rough idea if the vac advance is working by running the engine and sucking on the advance tube.... if it's working (but you won't know how well) revs will rise a bit.
BTW...the "little canister thing" is a flame trap (presumably in case of a back fire). I know the factory thought you should have one but mine was deleted about 30 years ago..
Good luck
PS I wouldn't be too fussed about finding a unit that measures dwell... That's what feeler gauges are for

With most (all?) electronic units its buried in the firmware and there's nothing you can do about it.