I will check this with a top of stroke indicator before I install it but I'm out of town right now and wondering this. My 305 had the timing indicator at the 12:00 position. You had to shine the timing light down behind the water pump.
The new crate engine comes with two sets of indicators but they mount in the more traditional 2:00 position. I changed over to a new harmonic balancer, which has the mark machined into it. Something has to change in order for this new position to be correct. Do they machine the key way in the crank in a different position? Inquiring minds want to know.
Also, I got 4 dowel pins, 2 a little larger dia. and 2 a little smaller. The large ones go in the crank/flex plate position and plug the alternative dipstick position. Where do the two smaller diameter ones go?