On setting the valve lash cold set the valves .004 to .008 tighter than the cam card calls for if your running aluminum heads, with iron heads and iron block set them .002 looser cold. Always reset them hot to what the cam card cals for ad then maybe .004 to .010 tighter for testing at the track Do you know the "intake opens set the exhasut lash and then rotate the motor over until the intake valve opens all the way and starts to close" to set the exhaust lash? If not you may want to try this method on the bigger duration cams out there Your being confused is not uncommon , many old time professional mechanincs have thought you should install the distributor firing #1 with the timing gears aligned at 6 and 12 o clock like the instructions on the timing set call for, that is the beginning of the intake stroke on # 1 cylinder, not the compression or firing stroke IHTHs Engine building can be very frustrating, especially the first cuople of times, the advantage of doing this yourself is you know what you did and you may end up learning something new on each build The last thing I do before start up on any new motors is to priem the oil pump while turning the motor over on the starter with all the sprak plugs out and then put the plugs in except #1 and use the starter to find the compression stroke on # 1, set the dirstibutor in and start that rascal up