Ah, great! It's a runner!

It's optional whether you reinstall the distributor in the correct orientation. I think it's a good idea to have this stuff correct, but it isn't necessary in terms of function.

Not that you asked, but I'd recommend dialing it in by:

1) retorquing the head.
2) readjusting the valves.
3) setting the timing - with a light - to spec
4) dialing in the carbs
5) check the timing again to ensure that it's still exactly where you left it

[Note: if you decide to do these steps, please do them in this order - each is reliant on the previous being correct.]

6) drive it like it's your very best friend, with the heater on (not the fan, necessarily, just the heater control valve)
7) park it and top up the coolant as needed.

Sometimes carbs and timing can each be off enough that it won't run when the timing is set to spec - you may have to do some minor tweaks to the timing, then the carb(s), then the timing again, etc., repeat as needed. I've seen this a lot more on maladjusted Webers than SUs.

Best,

Cameron
Rose City