Assuming the engine has been assembled correctly, How would a person install a new distributor drive gear correctly and proceed to install the distributor in the correct position.

I am working with a 68 340 with electronic ignition.
Newly overhauled engine, has not been fired yet.

Thanks for the help Moparts

TDC on compression stroke, and point the slot toward the very left front intake bolt. If you are looking straight down and distributor in the back, it would be approximately 5:30 on a clock.

If the crank has not been turned from when it was dot to dot when built, clock the inter gear/shaft whereever it needs to be so it locates the rotor rearward and slightly to the DR side and place the #6 plug wire there & route them on around CW. This maintains the OE plug wire diagram & lets the wires nestle neatly & be as short as possible. turn the crank slightly back so the timing marks are at 10BTDC (mild cam) and 15 (wild cam) and the vac can is located on the pass side and has room to be turned and the magnet is dead even w the reluctor tooth that locates the rotor under #6 & lightly snug the housing & you're set. If the timing marks are at TDC #1 compression (firing) (6 & 12 o'clock on the dots), then clock the rotor forward and slightly to the pass side & locate #1 plug wire there and same as before back up the crank slightly to 10 or 15 BTDC. and route the wires on around clockwise 1-8-4-3-6-5-7-2. Keep in mind you want to turn the eng by hand as little as possible to keep from wiping the lube off of the lobes. initially locating the intergear slot parallel or the front edge slightly to the dr side will get you close then go from there

Unfortunately the crank has be turned...

with the timing marks on TDC either #1 or #6 cyls' rocker arms will be loose which will tell you which cyl is firing (loose is firing)

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Unfortunately the crank has be turned

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Don't lose any sleep over this. Why anyone would even bother to bring this up is beyond me !!

Ok, so just to clarify.

I have #1 cylinder at TDC(compression stroke), the line on the harm balancer is aligned with zero, i then drop in the oil pump drive shaft, and once its seated the slot is approx at the 5:30 position towards the drivers side.(pointed to the front left intake bolt)

Now to drop in the distributor (vaccum can to the passenger side), do i just rotate the distributor to line up with the rotor and call it #1 plug?

Thanks for help moparts!

back up the crank slightly to ~20 then slowly forward to 10 or 15 BTDC (takes slack out of the chain). Turn dist till magnet is dead even w the nearest tooth that places the can in the general vicinity where it goes and whatever cap terminal is over the rotor is now #1 but I would strongly suggest clocking the inter gear so the rotor is forward and slightly to the pass side no matter where this makes you clock the hidden intergate slot at (& OE as you did may be fine). Some dizzy's have a different bottom shaft tang to top rotor phasing which requires a different than the shop manual intergear clocking picture if you want to maintain the OE plug wire diagram which is highly recommended (helps prevent future errors) & lets the wires route as short as posssible & nestle neatly. Gap the reluctor to .008 w a brass feeler gauge.

Liek said above bring the piston to TDC compression. Easy to etell when holding your finger over teh number one spark plug hole and turning engine over very slowly (I bump relay terminals) till I feel compression coming the take a breaker bar on the crank bolt and go to TDC compression and drop the intermediate gear in with the slot and close to parrellel with the engine center line as you can. Mine usually on a small block come usually come out like the illustration out of the mopar manual. Looking at most OEM SB engines that have not been apart this is the position on them too. This position is really for uniformity sake and as ling as you take note of where the rotor points on installation of the distributor and line up the number 1 plug wire in the terminal in the cap where the rotor is pointing and follow the firing order around you will be ok.