As also asked earlier, what clutch housing (bell housing) are you using? Is it possible (4ontheFloor, others?) that the pointer might be located differently on certain truck/auto early/late 216/235/261 clutch housings)?
If you
set the timing with a vacuum gauge, the location of the ball, pointer, and type-of-marking on flywheel will not matter. I prefer a timing light but the vacuum method also seems to work OK.
Tim