The initial timing of the dist is to set the base crank timing * whatever your base is, 8º, 10º, whatever. With the system wired in place & key on, turn the dist CW until the led lights, then go CCW until it just goes out. Make sure the coil pack is NOT connected when doing this.
After startup check the actual timing & adjust from there.
Check the manual I gave you, but pretty sure that's it.