Hi Ozmax, Let me see if I can help you here.
The distributor cam rotates a little bit when you seat the distributor. You have to take into account this movement when you line up the pin with the oil pump. I used a flathead screwdriver to turn the oil pump, so that it would be aligned once the distributor was seated.
There is a very good post (by AntiqueMechanic) on how to set the distributor and properly time your vehicle. It is located in the Tech Talk forums here:
https://vccachat.org/forum/ubbthreads.php/ubb/showflat/Number/89902/fpart/3Hope that helps.
Cheers,
-Aaron