Your picture of the timing gears is not focused well enough to see the timing dot(s) on the crankshaft gear. Roll the crank 360 degrees and see whether or not the dots align- - - -it appears that the cam is one tooth out of time, but the details are not clear enough to be sure. Normally, the timing dots align, with one dot on a male tooth, and either one or possibly two dots on a female tooth. Most stovebolt cams have virtually no overlap at the end of the exhaust stroke- - - -the exhaust will be closed all the way before the intake starts to move.
Jerry
