Black1987Stang.... you mentioned making sure the balancer lined up .... how do you put it to top dead center on compression?
Take out the sparkplugs, or just #1 cylinder plug (front plug on passenger side) if you don't mind having it harder to turn over.....
2.put a little piece of paper towel or someone's finger in/over the #1 spark plug hole, keep turning the motor over with a socket on the crank bolt until the paper towel gets pushed
out, or you feel pressure building up in the cylinder and trying to get out past your finger (means it's on the compression stroke, not exhaust)....Stop cranking the motor over.
3.put a long screwdriver, metal rod, anything you can stick in the spark plug till you touch the piston, keep turning and watching the rod, it's going to go UP then stop and then come down.....you want to get it to where its in the middle, not in the travels going up or down.....If I go past too far I back up 1/4 of a turn past the middle point so when I go back the normal direction of rotation to find the highest point I take up any slack that might be in the motor, in the timing chain or whichever.(thats just me tho)
4. Once you find the highest point of the piston (TDC).....STOP!. The 0 on the balancer Should match up to the mark on the timing cover....if not, then something's not right.....either the outer of the balancer of the balancer spun or something.
That should help you out. Sean