I first mark the distributer with it out of the car. This is easy to do. I find that the best thing to mark a distributer with is white out. Pretty makes the most visible marks on anything automotive, and it scrapes right off when you don't want it any more. With the distributer assembled, determine what position it would best sit in the car. The vacuum advance faces to the front, and the number one spark plug wire is to the back. It doesn't have to be any particular lead. Choose one lead, and mark it as number one. Go straight down from that lead to where the cap meets the base, and mark it with white out, or a marker, or whatever.
Usually the number one cylinder is towards the intake side of the distributer. Doesn't really matter exactly which lead you plug it into. You want the engine to be set at 10 degrees BDTC for cylinder number one. You can leave the distributer out, to set it there. You are going to have to turn the engine over with a large socket wrench. You put a socket and wrench on the crank pulley, and turn the pulley as if you were tightening it. It will be easier to do if the spark plugs are removed, but not necessary. Remove the number one spark plug, which is the one on the passenger side, towards the front. Stick your left booger picking finger in the spark plug hole, and crank the engine with the socket wrench. When you start to feel a lot of air pass over your booger picking finger, it means the engine is on the compression stroke. Turn the engine around until the timing pointer is at 10 degrees BTDC. The engine is now in position to fire on the number one cylinder. Place the distributer in, so that the ignition rotor is pointing back towards the intake. Keep in mind that rotor is going to twist clockwise as it goes down due to the non straight cut gears. It doesn't have to be in a perfect position. Make sure the base is seated all the way down against the block. If there is a small gap between the block and the distributer, it means that it's disagreeing with the position of your oil pump shaft. Pull the distributer out and either pick another position for it, or reach down there with a tool and turn the oil pump shaft a little. The best tool for this is obviously a priming tool, but you probably don't have one of those, so just use what you have. Never hit it with a hammer or use too much force. If it doesn't seat down, there is something wrong. After you have the distributer all the way down and seated, turn the distributer until the rotor is pointing directly at your white out mark. Lock the distributer down with the distributer lock. Now you can position the distributer cap onto the distributer base. Take the distributer cap and place it on the distributer. Place your ignition wires around the distributer from number one in the correct firing order. There are two firing orders, and I'm not sure which your engine is setup for. Probably the HO firing order. Double check your timing sequence.
Now try and start your engine, with the air filter off. If it starts, then thats good. Set your final timing with a timing light, and the vacuum hose to the vacuum advance disconnected. If it doesn't start, move the distributer a little bit back and forth until it does start. If it shoots a huge f'n flame out of your carbuerator, that means you have something way out of whack, and discontinue cranking as this can damage your carb. Most likely you have a miscalibrated booger picking finger, and you have distributer set to fire on the exhaust stroke instead of the compression stroke.
Kurt