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Dave, I feel I should tell you, moving the distributor is not going to make the pointer line up with the balancer unless they are in time.
That is to say, if TDC on the pointer lines up with TDC on the balancer, then you should be able to time the engine.
I think you said you were having problems reading the timing not running the engine. This might be because the balancer and the pointer are NOT aligned with the engine. If you move the distributor, you WILL change the timing.
Please don't pull the distributor until you have verified TDC is 0 degrees on the balancer and the pointer is pointing to it.
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