The outer ring of the balancer is pressed over the center hub, with a ring of rubber in between the two metal parts. If the bond on the rubber ring fails, the outer piece can slip around wherever it pleases. I like to watch the #6 valves as I turn the engine. Watch the exhaust valve (last one in line) open, then close. Just as the exhaust valve is closing, the intake will begin to open. At that point, the #1 cylinder will be very close to top dead center on the compression stroke, and the distributor rotor should be pointing to the #1 plug wire. Set the points to fire right there, and the engine should start.
Jerry

"It is better to be silent and be thought a fool than to speak and eliminate all doubt!" - Abraham Lincoln
Cringe and wail in fear, Eloi- - - - -we Morlocks are on the hunt!
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. - Ernest Hemingway
Love your enemies and drive 'em nuts!