HEI Upgrade but No Spark (kinda)

So reloaded the beer fridge and put everything back together and started attempting to start it. A splash of gas down the carb and it starts and runs until the gas is used up. So a jerry can with some fresh gas and dipped a hose from the fuel pump into it and I can get it started with two pumps on the go pedal but after a few seconds of running it dies. Haven't got around to setting the timing yet but I suspect it's out more than just a bit.
So now the question is rotor phasing. (Maybe time for a new thread!).
With the electronic distributor should the rotor point almost exactly at the cap terminal when the reductor is in line with the pick up? Mine is out more than just a degree or two-more like 3/4" or so from straight up. I marked on the distributor body the plug terminals and thats how I see it's out that much. And being out that much there isnt enough adjustment in the slotted plate on the distributor. Sorry but I cant recall if its advanced or retarded but I would think it should be pretty closed to straight up no?