I asked this one also in my engine start question just in case you looked at my post.  I dropped my distributor in a new engine rebuild and it started and runs.  However, I cannot set the timing because the vacumm advance module hits the manifold as I rotate it counter clockwise.  Can I rotate the distributor 1/8th of a rotation clockwise to compensate.  In other words, right now the points are exactly dead open on the cam.  Can I not move it back to the same position 1 spot back on the cam and be able to start the engine and have more latitude in adjusting my timing.  Thanks, David

You can, but you'll need to also move the oil pump drive rod the same amount, or the dist will not fall back in...
The easiest thing to do would be to move the plug wires around one notch. This would at least get it running well enough to get everything adjusted and all. Then you can pull the dist at a later date if you just have to have it "correct".

Joel, thanks for the comment.  I ended up moving it one notch and reset everything and it's running just fine now.  Thanks.....David.