I've never paid much attention to where the dizzy rotor is pointing, and didn't know I could get to #1 tdc by putting gear dot at 12 (after chain is on). I've just left plugs out, and spun the crank with a ratchet, feeling for compression with a finger. Then, I'll put the timing to about where I want it, and set the distributor in place, making sure the dapshot has plenty of room. Next. Put power to dizzy, and rock it back and forth, looking for spark. ( laying a plug on the manifold ). I guesstimate the exact place where the dizzy sparks, and snug it down. Put plugs in, lace the plug wires, prime the carb, and fire it up.

This method puts the engine within 5 degrees timing, confirms spark, confirms compression. Usually fires on first crank.