Electronic ignition issue

Well today after a consultation or 2 , I decided to pull the front of my engine apart. Before I did all this I set the #1 piston to tdc,checked and double checked it's position,felt all good. I was expecting some shreds or gear damage when that chain cover popped open and was pleasantly surprised to see steel sprockets. Had to look pretty hard for the timing dots though on the sprockets found them and high lighted them to see. I noticed that the crank sprocket was set very close to where I set the balancer at, but the cam sprocket was closer to the 11 o'clock position. Now I didn't think that was right so I rotated things over again only this time I stopped the crank at 12 o'clock to see if the dots lined up and they didn't. Crank sprocket at 12 o'clock and the cam sprocket was at about 3- 4 o"clock. I repeated this a few times and no way these timing dots would line up. I was under the impression that if the sprockets are set to match on installation this is what I should have see on a stock set.The crank sprocket and cam keys are still in the groove the chain has about 3/8" approx of play and the teeth all look pretty good. As always appreciate the help,Thanks Jeff