318/360 swap questions

OK, about ready to start er up. I have installed the distributor (at TDC) with the rotor pointed toward the first bolt on on the intake by the #1 cylinder. How do I get my timing in the ballpark before starting the motor?

Ahem.
Are you on the compression stroke? Please say yes. The #1 has to be TDC-Compression stroke. Then the rest as you say.
Then make a pencil mark on the ballancer at 10* AFTER TDC
Then crank the balancer backwards to put that mark on 10* ADVANCED
With this setting you will now be able to set the dizzy to fire off at 20* advanced
Next, push the Vcan as far back as you can, to nearly hit the firewall. Pop the rotor off. Now pull the v-can forward until the very first reluctor vane comes into alignment with the magnetic trigger sandwich.Snug the dizzy down, just tight enough that it becomes difficult but not impossible to move, so that you can quickly adjust the timing after light off.Then put the rotor back on.
Next,put a mark on the dizzy,on the side of the body, directly below the rotor tip.
Put the cap back on. There should now be a tower directly over your mark, and that will be the tower that you connect to the number one sparkplug wire. Then wire the rest according to the firing order.Connect the Vcan to the sparkport.
The timing is now set to 20* advanced, or very close to it.
I assume this engine has a flat-tappet cam in it, and you will be wanting to break the cam in.
So,as soon as the engine runs,you will be cracking the throttle to get a minimum of 2000 rpm, and simultaneously checking for a fuel leak. If you have a fuel leak, STOP! the engine and fix it. That is your very first priority.Then restart the engine, and set the idle speed to get 2200 to 2500 rpm.Then pull on the Vcan to increase the idle speed some more.If the engine slows down, push the Vcan back some. You will then reset the speed to 2500, for the duration of the break-in.
Then check for leaks of any kind.
Then continue the break-in period, watching for overheat and leakage of any kind.
After about 20 minutes, you can bring the idle down, and set the timing properly.
I keep three things handy;
- - - - - - 1)fire extinguisher rated for gasoline
- - - - - - 2)running water to spray on the rad in the event of overheat,
- - - - - - 3)a time clock
I always do this outside, away from my buildings. There will be smoke. There will be stink. There will be noise. Twenty minutes is a long time; with noise, stink, and smoke.