I always thought that proper timing was when the distributor,s rotor was pointing at the number 1 cylinder. Your posts imply a different position (around number 2 cylinder), is this correct ?
That phrase has been misunderstood for years - it means the rotor is to be pointed at the #1 wire tower in the cap; that's the only way the wires can be correctly indexed in the cap. The correct wire indexing in the cap is shown in the '69 Assembly Manual (UPC 6, sheet B9, View "A") and in the '69 Chassis Service Manual (page 6Y-27, item #6 - "Place distributor cap in position and check to see that rotor lines up with terminal for #1 spark plug"). The #1 wire tower in the cap is always in the next position clockwise from the adjusting window.