That's a good way to do it, but there's a somewhat better procedure. The stoverbolt cam has such a small area of "overlap" that sometimes it's difficult to recognize when the valves are "rocking". Start about half a turn away from TDC, and turn the crankshaft clockwise from the front until you see the #6 exhaust valve start closing (last valve in line). Just as that valve closes and the intake starts to open, the #1 cylinder will be close enough to TDC to install the distributor with the rotor pointing to the #1 plug wire. Then align the BB with the pointer. Turn the distributor housing clockwise until the points are closed, and back it up CCW until the points just break open. Lock the distributor down at that spot, and the engine will be timed close enough to start. Once it's warmed up, readjust the valves and dial in the timing with a light if necessary.
If you're running a new cam and lifters, do a 15-20 minute break-in run at fast idle (1500-2K RPM) before letting the engine idle down. This establishes a running fit between the cam lobes and the lifters.
Jerry
