Originally Posted by sepp
. . .
Lined up the timing mark, had the rotor pointing to #1, and it appears that both #1 intake and exhaust valves were closed. . . .


By closed, do you mean no rocker movement (that would be open valves), or are both rockers moving (valves would be closed against the head, and ready to fire)

The timing mark is lined up to the pointer two times for every rotation through the firing order. Rotate the engine/crankshaft one full revolution and both #1 valves will be closed (loose rocker arms and that is when adjustments can be made (if you use the static method of valve-lash adjustment).