Valve/Cam timing Petrol 2.25- am I over thinking this??

Here is the old cam which is I hope the same as the new, Number one lobe lined up with the keyway (this I have checked with new one) Number 4 is 90 deg to number one. As the keyway is aligned with the P on the sprocket number one lobe is where the P is (or should be). Still confused here

Ok I have given some thought on this. It seems that on the factory marks 'P' and with the crank keyway pointing up the timing is 180 degrees out ie exhaust just closed and inlet valve just about to open on induction stroke . So if I set it up per the book the timing will be out by the 180 which I assume will cause the problem of the Distributor needing to be 180 out (have seen this on a few engines) but apart from that nothing bad will happen (as the crank does not know what stroke the pistons are on)
So I plan to install the cam 180 out (as per book) so that the TDC will be on the compression stroke.

I have heard lots of people with Distributor problems ie wrong orientation and wonder if this could be part of the problem.
I can't believe this is a problem with all timing of a series cam but you might wonder.
I have just put the chain on to check and yes timing is 180 out according to marks. So either dodgy sprocket, or?????
Please feel free to comment as I can't believe this is a common issue.

MFC said:

Ok I have given some thought on this. It seems that on the factory marks 'P' and with the crank keyway pointing up the timing is 180 degrees out ie exhaust just closed and inlet valve just about to open on induction stroke . So if I set it up per the book the timing will be out by the 180 which I assume will cause the problem of the Distributor needing to be 180 out (have seen this on a few engines) but apart from that nothing bad will happen (as the crank does not know what stroke the pistons are on)
So I plan to install the cam 180 out (as per book) so that the TDC will be on the compression stroke.

I have heard lots of people with Distributor problems ie wrong orientation and wonder if this could be part of the problem.
I can't believe this is a problem with all timing of a series cam but you might wonder.
I have just put the chain on to check and yes timing is 180 out according to marks. So either dodgy sprocket, or?????
Please feel free to comment as I can't believe this is a common issue.

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hello there MFC Tony here,
the pic that Keith posted of the engine on the stand is of my engine when i rebuilt it in 2012 and yes you are 100% correct it is out 180deg and i followed the haynes book and i do think you are right that the haynes book in fact tel;ls you to set the timing incorrectly as my rocking valves when set to tdc is in fact on cyl#4, i have ran it like this for 12 years now no worries and i went to work on it today hoping to put the timing back to factory and i removed the distributor drive gear and put it the right way around but was having trouble so i put it back the way i have had it the past 12 years... if only i had known the cam timing was out 180deg and that pic of the timing set up is now classed as wrong i just wonder just how many landrovers out there that have had the haynes rebuild job and it was out as you say how you have found engines with timing out and i now think you are correct.
this is her a few years ago on the left and the one on the right i am currently repainting it a dark blue.
cheers.
Tony.