What are my options (harmonic balancer)

Ok, I got some pictures to support my work.

Crank Gear set to 0 as indicated by the crank key location (at the 3 o`clock position in the picture)

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Timing marks of Cam sprocket aligned with the 0 degree mark on the crank gear.

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Dampener Pulley mark near the crank key (marked with red around white) at 8 degrees BTDC

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Distributor rotor pointing to mark on distributor indicating #1 pistion.

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I am expecting this to be close, not see my light indicate on the mark 120 degrees (crank rotation) infront of the expected.

I guess this would be 240 degrees past the tdc mark in the rotation of the crank.

Thoughts?