I just did this for the first time. I can give you a couple of pointers.
1. Figure out where TDC before you drop the engine in, and that will help you set your timing.
2. I didn't buy a primer shaft - I used a long socket that fit the oil pump shaft and used a couple of extensions and a cordless drill. Have some one sit in the car and turn the ignition on but not start the car obviously, then start the drill counterclockwise - you will feel the drag as the pump starts to pick up the oil. Have the guy in the car tell you where the oil pressure gauge needle is - in other words make sure it is making enough pressure - at least 50psi - my 6 y/o came in handy for this!
3. Do not use coolant when first starting the car - just use water - much easier to deal with any leaks.
4. Have fire extinguishers handy - I also had a towel soaked in water to toss on the engine if worst came to worst.
5. Have some one watch for leaks when you start it up.
6. When you turn the key, check you oil pressure gauge carefully - no pressure = bad.
7. Remember to add water to the radiator as the thermostat opens.
8. Check your AFPR - to increase pressure screw it in - to decrease pressure screw it out (needs vacuum hose off for this). Your AFPR may be different, mine was a Kirban.
9. Try and get a timing light on it ASAP. Set your base timing at about 12 with the spout out if you can. If the car won't run with the spout out, set it to 20 or so, and then pull the spout and you should be able to set your base timing.
10. Before you start check your firing order on the cam card, and make sure the balancer and the rotor are in agreement - ie rotor pointing at #1 plug, and balancer at about 0. If car won't start like this, you may be 180* off, and not on the compression stroke.
Ideally you should have about 3 people - 1 to watch for leaks, 1 to fill the radiator as needed and check oil pressure, and yourself to set timing/FP. Its kind of hair raising to do it for the first time - I had some oil burn off the back of the block, which scared the s h i t outta me. But the car actually started on the first turn of the key. After a bit of fiddling with the AFPR and timing, she runs great. Nothing like the sound of an engine coming to life for the first time.
Good luck
Howard
