318 LA Rotor position and TDC questions

With that offset on the rotor, you want the slot pointing towards the drivers front fender /outer headlight.

There is TDC twice on a 4 stroke. You need to be on the compression stroke, thus the finger over hole test, or pull the driver cover and tunr engine over, watch the intake rocker. When the valve closes the next time your timing mark comes around is TDC compression. Turn it over clockwise when looking at the front of engine.

Reality, the engine doesn't care where the distributor is pointing as long as the wires are in the corresponding holes for correct timing.