Noob question. Crank/Cam timing marks and distributor

After picking up my engine from the rebuilder, I am reassembling it. So I have the crank and cam aligned like this.


Does this mean I am at top dead cylinder#1?
If yes, should my distributor rotor be pointing at plug wire #1?

Yes and yes.

What if my rotor is not pointing at plug wire #1?

Pull the dizzy and rotate till it points correctly. Make sure you have the dizzy all the way down.

You have multiple choices to degree your cam on the crank sprocket you have pictured. The best way to make sure it is correct is to use a degree wheel and dial indicator on cyl#1 to make sure you are at top dead center.