I guess my last answer to this was "undeliverable" to the list...

Like all 4-cycle engines the crank turns two revolutions for each rev of the
camshaft / distributor. It will line up on the timing mark both when the
distributor is in sparking position for #1 and when it is 180 deg out. However
the valves are only closed on the compression stroke when it is lined with the
distributor mark - at the other point the valves have just finished exhaust
and are about to inhale...

If you just lined up the pully timing mark and pulled the distributor wihtout
checking you could be at either cam position - so assume you were 1 rev off
and DON'T rotate the distributor - especially if the drive gear wasn't
removed. (To be absolutley safe you can pull a valve cover and check valve
action to see where the valve action is correct. - or on a long block blow in
the ports to check valve leakage, as on the breathing stroke one will be open
a bit if the lifters haven't bled off.)

Tom

<snip>
 Am I confused on the theory here?  If not, how do I get the
 distributor properly realigned? >>

YIKES!!!

You only should be able to install the distributor ONE way, that is, in
alignment with the distrubutor drive gear, which it doesn't sound like you
removed. The top surface of the dist. drive gear has an eccentric groove
which, (in my experience) keeps one from reinstalling the distributor in any
orientation other than the correct orientation. If you removed the drive gear
too, check the Bently or Haynes manuals for "lining up" photos and
procedures. Otherwise, go back out to the van, un-bolt the distributor,
rotate it 180 degrees, and gently shove it back down the hole until it seats
with a "clunk".

subpoint: WHAT bushings?

haven't typed the word "distributor" that many times in my life,

gmbulley
fairfax, va