Of course it matters where #1 is because Pontiacs will run 180 degrees out of time. #1 being opposite of where it should be, seems to point to the engine being 180 out of phase.

One step at a time: Look at the timing mark on the harmonic balancer. There are 2 crank revolutions for each cam revolution. That means that the zero mark is on #1 every other crank revolution.

Imagine the timing gears as this happens: When the timing marks align, the engine is on # 1. The distributor should align with #1 on the cap. If you were to turn the crank one revolution, so that the crank would be again at zero on the harmonic balancer, the distributor will fire whatever cylinder that one happens to be. You need to consult people who understand numbers and know how to spell to find out which cylinder is the one that fires on the other than #1 zero on the crank.

I'm rewriteing this part because I didn't say it right, and it's past my bedtime. You have 2 crankshaft zeros to contend with.

I cannot remember whether the distributor has to be 180' out of phase, meaning that the distributor needs to be pulled and rotated a half turn, or if the wires have to be changed in the cap. The thing is that Pontiacs will run 180' out of time.

Rather than staying with my explaination, I block deleted. (I'b be willing to bet that you could plug "Pontiacs running 180' out of time" into a search engine, and find the technical explaination.) Regradless, this is how you verify the timing whether or not the engine is 180' our of time.

Pull the left rocker cover. You have to pull the cover not fish in the spark plug hole for tdc because on one zero-marker revolution, #1 is at tdc (ignition), and #1 is at tdc (ehxaust) at the the other zero-marker revolution.

Turn the engine over to zero. As you come up to to zero, if #1 exaust vale is closing, that's the other than #1 cylinder's turn to fire. Rotate the crank another time. As you come up to zero, the intake valve should be on its way closing and be closed when the crank hit's the zero timing mark.

At this point, the engine is fireing on #1. Pull the cap. If the rotor is facing as the book shows, but the cap is wired so that the other-than-#1 cylinder is fireing, the wires are 180' out. If the rotor isn't facing the correct position, the distributor is 180' out, and it needs to be lifted up, turned 180' then dropped back in.

I don't remember if the engine can run 180' out under one, the other, or both conditions (that is if both condtions are possible.) The thing is that you must follow a methodilogical process, using a step-by-step process, rather than simply ripping into it without the mandatory 1,2,3 process, so make sure that you start with making sure that the zero is #1 tdc on the ignition stroke. If you do this simple step, it will be more than clear whether or not the engine is 180' out of time. The only thing that doesn't remain clear to me is whether it's caused by the distributor or wires out of sync.