here's a pic from Dwaynes epic:

 

timing pointer is bassaxewards.
glad you found the problems,
now hopefully after refitting the timing pointer on the WP then refitting the belt you have good compression on the all of the cylinders .
not sure i would run the engine first ,
rather turn it over by hand with the plugs removed to look for binding.

 

Thought this might be interesting!
It's about 25 Degrees off

Going to lock down the cams remove belt o out crank restring belt then go for 45 before I do anything.

 

I just caught the pointer post thanks will check it this evening.

 

On those cheap water pumps om ebay, their pointer usually mounted on back wards.

 

Turned it around now only 12 degrees off nice catch F/S this makes a lot more sense I am still going to 0 out the timing before I start still one or more teeth off.

 

I figured that would help a bit. Wonder who did the timing with it that way and how bad it ran for how long.

 

This had a S/C on it which is now off, buyer said it ran great before it sat for 10 years.

 

Sure it did

after you have the timing set correctly it might be an idea to check the compression.

 

I'm sure it ran great but if you hear metal noise when it did run......