Yes, no need to remove the Valve Cover. The timing mark just needs to be 0 degrees on the compression stroke (#1 cylinder).
Then you'll be good to re-index. The distributor.
Before re-inserting the dizzy align the match marks on it:
Note that the rotor will be pointing to about the 10:00 O'Clock position (white arrow) when you start to insert the dizzy. Push the dizzy STRAIGHT in, do no rotate it and align the hole for the hold down bolt with the center of the slot in the dizzy body:
As the gear on the dizzy makes contact with the gear on the camshaft it will cause the rotor to rotate clockwise a bit (this is normal since both gears a helical cut). We want the rotor to then end up pointing to the leading edge of the distributors electrical connector (yellow arrow) when fully seated:
Install the hold down bolt and 'lightly' tighten it....such that you can turn the distributor by hand but with some resistance. With dizzy cap and spark plug wires reinstalled you are now ready to start the engine.
The timing will not be correct at this point (we will set it later) but 'should' be close enough to allow the engine to start. IF the engine speed is too low to maintain an idle turn the distributor slightly clockwise to advance the timing (which will raise engine rpm). Let the engine warm up and then perform the timing procedure.
Lastly, tighten the hold down bolt fully.
NOTE:
***When installing the distributor it is common for the gear teeth to not 'mesh' perfectly and cause the distributor to be off a tooth in one direction or the other.
In such cases it will appear as the rotor not being aligned as described previously. It might take several tries to reinsert the distributor while moving the distributor gear (a fraction) one direction or the other to get it all to line up.
So just be prepared for that and don't become frustrated. But under no circumstance should you rotate the engine or cams.
Let us know if you have any issues or other questions.
