Timing issue ?

['68 C-20]

I Picked up a 67 C10 4x4 to use for a yard/Plow truck. It has set since spring without running, but I got it going pretty easy.

292, B model Carburetor. It was running rough so I set about to pull plugs, cap etc. Got everything cleaned or replaced as required and still runs rough. Starts pretty quick, just runs rough.

Each plug had an identical "burn pattern" so I know each cylinder is more or less on equal ground. Have not done a compression test yet.

I can pull each plug wire while it is running for each cylinder and make it sputter more or less the same, so I know there is nothing catastrophic inside the top end.

It idles a little rough, balks and spits when you step on it, like the timing was off, if I hold a high idle (about 1500 RPM or so) it run OK but you can hear a cylinder or two dropping in an out.

I chalked up the timing marks and threw a timing light on it, and could not find the timing mark, no matter how I adjusted the timing. Then I went around the motor looking for the mark with the timing light and found it at about 10 o'clock on the wrong side of the Harmonic Balancer. (Yes I was clipped to the No 1 Cyl.)

When I dialed in the distributor cap so it ran as good as I could get it by ear the No.1 plug on the distributor is not at the front of the Distributor where it should be but back where No.4 is supossed to be, No.5 is in front. So sumpin' is outa' whack by 'bout 60 degrees.

Any thoughts? Did it jump a timing gear?