The only true way to look at the ignition timing is through use of a scan tool to read the ignition timing degrees. There is no procedure by which to use a timing light on this engine. I will give you the procedure to install the distributor. Using this procedure you can determine if the distributor is lined up correctly.
Important: Rotate the number 1 cylinder to Top Dead Center (TDC) of the compression stroke. The engine front cover has 2 alignment tabs and the crankshaft balancer has 2 alignment marks (spaced 90 degrees apart) which are used for positioning number 1 piston at top dead center (TDC). With the piston on the compression stroke and at top dead center, the crankshaft balancer alignment mark (1) must align with the engine front cover tab (2) and the crankshaft balancer alignment mark (4) must align with the engine front cover tab (3).
Notice: The ignition system distributor driven gear and rotor may be installed in multiple positions. In order to avoid mistakes, mark the distributor on the following components in order to ensure the same mounting position upon reassembly:
Ensure that the spark plug towers are perpendicular to the centerline of the engine.
Notice: Use the correct fastener in the correct location. Replacement fasteners must be the correct part number for that application. Fasteners requiring replacement or fasteners requiring the use of thread locking compound or sealant are identified in the service procedure. Do not use paints, lubricants, or corrosion inhibitors on fasteners or fastener joint surfaces unless specified. These coatings affect fastener torque and joint clamping force and may damage the fastener. Use the correct tightening sequence and specifications when installing fasteners in order to avoid damage to parts and systems.
Tighten Tighten the distributor clamp bolt to 25 N·m (18 lb ft).
Tighten Tighten the screws to 2.4 N·m (21 lb in).
The wire must not touch anything like the dip stick. Rubbing will make a ground/short after time of use.