TDC is #1 piston at TDC with both valves closed, correct? hang on, ill post a quick pic.
(http://img12.imageshack.us/img12/5310/tdcv.png)
yup
looks like TDC to me.
Thats TDC on the compression stroke. You also have a TDC on the exhaust stroke.:D
TDC on Compression stroke is "true" TDC though, correct? as in the stroke you want to set for sake of assembly.
I always ended up turning my motor to make sure the pushrods were working before I put the dist. in. If it were me I would put the heads and push rods in, then you can watch the pushrods open and close. There is a chance that it'll be 180 out if you do it this way though.