The Stovebolt Site Forums The Shop Area Engine Shop Correction to question about timing bb

Start at BB on no. 1 compression stroke. See where no. 1 on dizzy is. Be sure plug wires are right per firing order. Start and tune to ear and performance as Martin says. You can also use a vacuum gauge. If you are like most you don't have a degree wheel or want to dig do deep just to time a motor. Paint the ball white.
Don't look in the wrong timing hole. Should be on pass side. Could be a hole on each side. Use the hole that has a pointer in it to align to the ball. There can be a plug in the hole, covered with grease and you will not see it.

I believe the way you read the flywheel markings is as follows. Time with the ball right on the pointer. The 5 next to ball indicates the ball is at 5 deg BTDC.
The UIC is actually "Upper Center" with a hash mark in between U and C. This is TDC. Which is a reference to when pistion is topped out exactly. The triangle is a factory test spec mark.