If oil is coming out when you crank the engine you are good to go. No oil, no good.
Any thoughts in relation to an E dizzy vs points with this procedure?
"Follow Posers advice, especially about seating the distributor all the way. You can set the timing with the engine off like this:
Turn the engine to Top Dead Center on compression stroke.
Turn the key to ON and rotate the distributor "backwards" to retard the timing.
Now advance the timing by rotating the distributor until the points spark.
That's 0 degrees static, which is fine for break in. The rotor now determines where the #1 spark plug wire is located on the cap. If you don't like it pull the distributor and rotate it to where you want it, then repeat the static timing."
Thanks as always!