Snatching a distributor out without preparing makes it much harder to put back. I prefer to mark the base in relation to the block (near the clamp bolt in this case) and the rotor on the bowl at #1TDC while it's still seated in the engine. Then when the distributor comes STRAIGHT up enough for the gears to disengage, I make a 2nd mark so it's easy to drop the distributor back onto the correct tooth later.
5.0L/5.8L Timing Pointer F1TZ6023A/E3AZ6023A, Jegs
55550309Distributor Clampdown 24-33 Nm; 17-25 lb-ft