I've got a 65 389 in my bird too. Sounds like you're obsessing over the wrong stuff. The distrib to oil pump shaft connection is pretty forgiving. If the distrib is anywhere near seated, the shaft will be lined up properly. The one thing with distribs is if you have some sort of washer or gasket at the seat, the timing will change slightly when you snug the bolt. If you're worried, pull the distrib back out and look down the hole with a light and try turning the shaft with a screwdriver, counterclockwise. Not sure what you're saying about the distrib point to the #1 cyl. You align the distrib and cap based on where the rotor is pointing. The "normal" location for cyl #1 is pointing towards the firewall and driver side but it can be anywhere as long as the plug wires match up.