Here are my steps. With the pointer on the timing cover this is little harder than your run of the mill SBC, but not too difficult.

1. Found TDC of #1 piston with dial gauge.
2. Temporarily installed timing cover and balancer.
3. Went down .002 on either side, noted position of pointer in reference to the balancer slot and split the difference.
4. Made a line mark on balancer to indicate exact TDC.
5. Removed balancer and timing cover.
6. Installed timing set straight up making sure not to move off exact TDC.
7. Installed degree wheel, set pointer at zero on degree wheel.
8. Installed #1 exhaust lifter in bore (1st one closest to the front).
9. Setup dial indicator in lifter cup, found top of lobe, zero'd out dial indicator.
10.Rotated engine .050 down the lobe, noted 65 deg.
11.Rotated engine more in same direction coming back up lobe to .050 before top of lobe, noted 161 deg.
12. Total is 226, divided by 2 is 113 degrees. Cam card is 114 degrees for lobe center on exhaust. Within 1 degree of cam card, done.