I'm Outta Touch, I'm Outta Time

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Sounds like you are winning.
However it doesn't sound as if you are confident in your ability to set the timing correctly. I would suggest ordering one of the NuRex timing wrenches and use it to set your timing. It may not get the timing set absolutely perfect as in other methods using test lights etc... but it gets timing really, really close.
Biggest things with using the wrench and setting timing is to make sure you are at top dead center using the timing pin. If you are having trouble finding the dimple in the timing gear just use a small short phillips screwdriver in place of the timing pin.
Also make sure that the arm that extends out from the back of the distributor touches each side of the slot when you move your timing lever fully in either direction. If it doesn't that has to be set right before going forward.
Be sure that the timing lever is then fully raised to its highest position and then using the NuRex wrench set the cam on the distributor and lock it in place.