you were right. While watching them rebuilding the engine, they tried to do it the Chevy way. Of course it did not work, so I told them to just bolt down the nuts until the rocker hits the valve. Then run the engine and adjust the nuts until the ticking ends and then go 1/4 further. That's how I did it several times and it worked great!
After determining TDC and knowing were the distributor finger points to at TDC, I rearranged the spark plug wires and wanted to start the engine. I just heard a tick and nothing happened. The starter did not run. I hammered the solenoid slightly, but it did not change anything. So, I cannot tell you about the results at the moment.