If you don't have a timing light handy to set your engine's timing, you can get VERY close by doing this after you're done installing your points:

1)  With ignition OFF, turn the engine until #1 is at TDC at the top of the compression stroke (remove your plugs to make it easier to turn over by hand, and put your thumb over the #1 hole to tell when it's on the compression part of the cycle).
2) Remove the disty cap but leave the rotor on and make sure that you've installed the distributor correctly (rotor pointing at where the #1 distributor cap nipple was).
3) With the distributor clamp bolt loose, rotate the distributor body about 1/10 of a turn in the direction that the distributor SHAFT normally turns.  The points should now be closed.
4) Find a smoker and get a little strip (approx. 1/4" x 1") of the outer package plastic wrap from him.
5) Thank him for the plastic strip, then kick his ass for smoking.
6) Open the points up and place the strip between the point surfaces.
7) Now, while tugging gently on the plastic strip, slowly rotate the distributor body in a direction OPPOSITE from what you did in step #3.  When the strip releases, your engine is timed!  Lock the bolt down.

Tim Ponn
Grand Valley Tractor