If you have points ignition you can "static" time an engine pretty closely, and even if you have electronic igntion, you can get it close with practice.
Here's how you do it.
If the dist is / has been out, pull no. 1 plug, and while sticking a finger in the hole, bump the engine around while watching the marks. You want the cylinder to blow your finger forcibly out of the hole AS the marks come "up to" the timing area. This tells you that you are on no1 ready to fire. Now move the engine until the timing marks are where you want, let's say 10* BTC
Now install the dist with the rotor pointing where you want---you only have two choices. Mark the top rim of the dist as to the no1 plug wire tower. With the rotor pointing (directly above) your mark, on a BB move the dist CCW, then SLOWLY do the following:
The points should now be closed. Turn on the key, and put a test lamp across the points. As you get practice, you can do this without the lamp. SLOWLY move the dist cw, and at some point the lamp should light. THIS IS EXACTLY where you want the dist. You might want to repeat this until you get it right.
With electronic ign, you can do the same thing---pull the main coil wire, put it where you can see it spark, or hook to a plug against the block. As above, (BB engine) turn the dist ccw, then slowly come back cw APPROACHING AND PAST your mark on the dist rim for no1 tower. At some point the reluctor will pass the pickup, and if you practice, you can generate a spark. You can also visually adjust the dist. so the reluctor is just barely passing the magnet center core of the pickup.
With practice you can set the timing pretty closely.
For a SB you reverse the rotation---CCW advances the dist on a SB
)Edit & if you were on #1 compression then check that the reluctor "star" is lined up with the long thin magnet then the star moved a slight bit clockwise past the magnet by moving the housing (magnet) CCW. 