[Growley bear]

All that is needed is a rubber band to hold tension on the timing pin; this keeps your hands free and makes it easier to observe the pin movement as the engine is turned over.
Remove number one spark plug hold thumb over plug hole and BUMP engine over with starter until a rush of air is noticed. Stop at this point as you then know that number one is approaching TDC on the compression stroke. At this point the dimple is close to alignment with pin.
NU REX also makes a distributor cam tool which takes all the guess work out of setting the cam and rotor in the proper location. This is one of the best things since sliced bread.