Not completely fool proof, but should get you close...
Remove #1 spark plug.� Hand crank the motor with a wrench on the front engine pulley.� Cover the spark plug hole with your thumb.� Turn the engine clockwise until you feel pressure pushing your thumb out of the spark plug hole.� Once the pressure stops pushing on your thumb, turn the engine counter-clock-wise a small amount. This should get you close enough to start the engine.�
Check the position of the distributor rotter.� If still in the stock position, it should be pointing at about 4 o'clock.
Hook up a vacuum gauge at the intake port, then start the engine.� Let it warm up, then loosen the distributor.� Slowly turn it back and forth to find the position where your vacuum gauge shows maximum vacuum.� Now turn the distributor counter-clock-wise a few degrees, then lock it back down.� You will will be very close to perfect timing for your engine.� At this point, you will probably need to make some minor adjustments to your carburetor. Or maybe not.
Edit: Randy types faster than I do. 8-)