No doubt someone can tell you in more detail what needs to be done, but If I were up the proverbial creek without a paddle, I would:
Remove the belt and set the cams so that all valves are closed, i.e. let the cams go to the position to which they naturally want go to (hold on so the valves don't slam the head).
Set the crank so that No. 1 piston is at TDC (the timing pointer on the crank sprocket will point to the 0 degree mark). Set the two cam sprockets so that the timing marks line up. Rotate the distributor pulley so the rotor points to Cyl. No. 1
Install the belt and tension.
You may need to fine-tune the distributor so that the rotor points to No. 1 cylinder. You will time the engine correctly later; it will run at 0 degrees.
My guess is that you didn't bend any valves when the belt slipped. The valves would have wanted to go to a more closed position (less total spring tension). The danger from a scenario when the engine is running, of course, is the next revolution of the engine -- not the initial slip.
Hope this helps,
Mike
Last edited on 04-10-2011 01:33 am by Dakota123
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