The timing gear placement isn't important as long as you drop the distributor in at the right place. Alot of people just line them up pointing at each because it's easier to line them up that way. Then just drop the distributor in with the rotor pointing at #6 or they just rotate the crank until the crank gear is down and the cam gear is at the top and drop it in on #1. As long as the dots line up and you drop the dizzy in right your good.
70 to 90 on compression is wwaayy low! I would think you should at least be in the 160-170 range. Almost sounds like the valves are staying open. You didn't put a preload on the rockers like hydraulic lifters take I hope? Just trying to help out.