The distributor is held on only by the small bolt and advance plate at the base where it goes into the block. Some of these distributors are stuck due to oil and gunk buildup and require a fair amount of lubrication, a small pry bar and a twisting motion to get them out of the block.
The pin refers to a rolled pin in the drive gear on the end of the distributor shaft and once removed from the engine, is quite obvious.
Jeff