Why not just borrow a variable timing gun and set to specifications and setting pointer on crank to zero with engine idling or close to idle. No guess work and it is exact. Half the marks on my timing cover were mashed right off from the rectifier magnets breaking loose on an old 470 engine pretty much leaving me guessing where the numbers were. If you can read the zero which I believe is in the center of the notches you should be able to adjust distributor. Get motor running first and warmed up then try and get idle as low as possible without stalling and just set what the factory specs. for your engine. Then you can actually do idle adjustments if it is carbed.
good luck, Tom