Help understanding my odd timing?!?!

Never heard of that one. If it's really internally balanced, they should have just put a 318 blancer on it. Maybe the timing marks were machined off and then replaced in the wrong spot. I would find out FOR SURE if it's internally balanced. If it is, get you a good SFI approved balancer for an internally balanced small block. They are under a hundred bucks for a good one. That will make sure the timing mark is in the right spot and the balancer will be neutrally balanced. That whole balancer thing sounds like a bunch of hooha to me. never heard of anybody turnin one down in a lathe.