Issues with 340 distributor

Phase is handled by the orientation of the reluctor to rotor. So if they are locked on upper shaft no worry. The lower shaft offset can be adjusted with base timing, normal timing adjustment. Most aftermarket distributors have tang 90 degrees off, and may require walk of distributor gear, if you want #1 at front position. There is also cap phase by pick location vs housing, but you will not mess with that.

A machinist or others with fabrication skills may be able to fix your distributor. I will take it off you hands if you want to toss it. It can be for a core for experimental ignition work I do.