Looks to me like the keyway pin is in the opposite slot which is B/RB There is only one V8 reluctor, unless and I don't know about lean burn, but speaking of vacuum advance dist.sIs your reluctor on correct? I can see a clock wise arrow which is small block?
No it looks correct to me. The two photos he posted tell the story. There are two keyways in the reluctor. The one for CW is empty and in the other photo you can see the pin in the opposite side.Do you flip them over to go from sb to bb, or just use the other slot? Haven't screwed with one for years, kindof grasping for straws here!
My old eyes don't see a locating pin for the reluctor ?
"Did we ask" are you using a "dial up" light? If so go find yourself an old fashioned non-delay light