it could be on the ball but then 5 degrees isnt a lot and you could have gone past that a little bit. at TDC it should be on the line between the U and C. here's how i set mine up for a first run and the same ever since. http://www.speedprint.com/deves50/doc/enginetiming.pdf

since using this process i have no more problems in this area.

after you get your idle speed set then adjust the idle screw to the hightest vacuum reading you can get. re adjust idle then re adjust idle screw.