Take out the electronic thingy and put in normal points and condenser. Set the points gap to 15 thou. Remove the spark plugs. Put your thumb over No. 1 plug hole (that's the front of the engine!), and by hand, turn the engine until you feel pressure building up. Now look at the timing marks underneath the crank shaft pulley and line up so that the notch in the pulley is between the middle and longest mark. Now set the timing so that the points are just opening (strobe from the coil HT or the old fashioned lamp/meter on the low tension.
At this stage, also check that the rockers on No. 1 are free. Fit a NEW rotor arm and note where it is pointing. Fit the HT lead for No.1 to that terminal on the cap, and proceed 1,3,4,2 anti-clockwise.
start the car
The compression readings are a bit too spread for comfort, but should not prevent running. Good luck.