Is it possible for 318 to run with dist. 180 deg. off ???

That is what I thought but as I said, I could not find the timing marks with the timing light on number 1, but with the timing light adjusted to 90 deg. out , they showed up near the timing marks.
The correct answer is "piston stop."

I made and still have had this one since the mid 70's

stop2-jpg-jpg.jpg

Disconnect battery for safety. Insert the device in no1 making sure the piston is down. The length of the plunger is unimportant, but you want the piston to stop "down a ways." If you buy one rather than building one, make sure you get a lock nut on there to stop the stem from wobbling around

CAREFULLY wrench the engine around until the piston stops on the device. make a temp mark under TDC on your pointer tab, onto the balancer

Rotate the engine opposite direction do same thing. This will result in two temporary marks, and halfway between is TDC

If the original mark is correct, that is where it will be.