Any Toyota mechanics in the house?

I am still Toyota certified, although it's been many years since I was in circulation, 1993 was about when I left Toyota. That distributor should be driven by a male slot on the end of the shaft. That means it's either in right or 180* out. Kinda like a Mopar.

So, I would guess that the timing belt is stretched if you reach the end of the distributor adjustment slot and you still need more. It probably needs a timing belt.