jughead

I have a '71 302 Ford engine in a '35 MBZ kitcar. Whoever owned the car before me modified the cover over the crank pulley and removed the timing pointer. I need to create a new timing pointer. I assume that I can bring the engine to TDC and make a mark above the crank pulley to use as a timing pointer.

My question: To find TDC do I feel for compression (or get close to it by cycling the engine so that the rotor points to #1 plug wire on the distributor cap) for #1 cylinder, then watch the exhaust valve cycle through, then make my mark above the crank pulley just as the intake valve starts to activate, or do I make my pointer mark when the exhaust valve comes "up" but just before the intake valve goes "down"? I guess I can also find TDC by lining up the cam and crankshaft pulleys then reinstalling the cover and making my mark?

Any suggestions?

Thanks for your help.

Mahalo