No timing tab

Ok,bear with me on this one but with all you said above,both #1 valves closed,piston at TDC, pull #1 spark plug wire, using a extra spark plug ground the plugs outer metal housing,with key on,engine not running, turn the distributor till you see the plugs gap fire a spark, snug your bolt(pictured above) this will get you close to TDC for starting. With no tab you can mark the notch on the balancer with a paint pen and a line on the timing cover/block for 0 degree TDC reference point. If you do not have, borrow a dial back timing light to set your timing to a prefered setting,lets say 10 degrees advanced on the dial on the timing light,turn the distributor till your paint marks line up. I know clear as mud. I am sure that others will chime in with something more simple and or quicker.