The points should be just barely open, not on the high point of the lobe. It doesn't matter where the rotor is pointing, as long as you use that position for the #1 cylinder plug wire. Follow clockwise with cylinders 5-3-6-2-4 and the engine should run.

Why are you putting that butt-ugly, rusty distributor on that nice-looking new engine? Clean it up!
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!