Timing question - new chain

[FishinMagician]

AMC 150 : It's been to long since I've done a timing chain job so I'm a little confused and have some dumb questions. I pulled the motor to freshen it up and paint it. I was't going to do it since I'm going to do a 5.3 swap this winter, but it just looked nasty. Me, being bored, in a hurry...and a moron, pulled the distributor without checking where it was pointing. Anyway, I aligned the timing marks per the manual and the piston was at TDC but not on the compression stroke. I brought it up on compression and the marks were 180 out. I decided to go with that since it had been running great after the Weber swap and nutter bypass. Now, I'm second guessing myself. Do I bring #1 to TDC on the compression stroke and install the distributor with the rotor pointing to number 1 on the cap and ignore the timing marks? If I do that and it turns out it is 180 out, can I just remove the distributor and re-install it 180 out or will this put it too far off to adjust timing?

 

[Torxhead]

When you have the timing marks lined up, on the dampner, put the distributor in pointing the rotor at the #1 location. You probably have done that by now.