Watching the valves will get you close to tdc but not close enough. You need to pull the spark plug out of the number one cylinder, and verify that the piston is at TDC after the intake valve has closed on number one. (I bend over a close hanger and watch for it to peak as someone else cranks the motor over by hand). Then put your distributor in firing at #1. Right now the distribtor could be anywhere in ~180° of the right area (compression and powerstroke).
Are you sure you have spark at the plugs now that you've replaced the ignition module or is your timing so far off the motor won't run?
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93 Thunderbird 5.0 HO
89 Firebird L03
95 F150 XL
Get ready for the 351 boss build this summer, 4v closed chamber heads, 2.25/1.75 valves, .750 lift, 12.5:1 piistons, wieand tunnel ram, nitrous, I think its gonna roar!
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