dublenaught,
It's a little more involved than that. The flywheel timing mark will line up twice with the pointer. You must determine when the piston on #1 is at TDC on compression...about to fire! The easiest way in my book is to pull the plugs, hold your finger over #1 hole and wait for a rush of air as the piston travels up to TDC.
As you feel this air push your finger away, watch the peep hole for the flywheel mark. Align the pointer and BB and you are on #1 TDC on compression....as opposed to #1 TDC on exhaust.
Now you can install the distributor, being careful to get the oil pump drive tang into the oil pump. Put the distributor in any old way you want. After it is in and seated perfectly, stick the rotor on. The #1 plug wire will go in the cap directly over the rotor. Install the other wires in firing order 153624 in clockwise rotation, and time with a light. Disconnect the vacuum advance line at the carburetor and plug it when you set initial timing.
Stuart
