Cusser
+1y
Essentially: yes. For example, when the engine turns to TDC for #1, then the rotor should be under the distributor cap terminal/spark plug wire that goes to #1 cylinder. And when the engine turns to TDC for #3, then the rotor should be under the distributor cap terminal/spark plug wire that goes to #3 cylinder. Etc. Now, I listed #1 first and #3 second, the firing order on the 88-93 B2200 is 1-3-4-2 with 1 being the cylinder at the front of the truck.
People rebuilding old VW engines encounter issues installing the distributor drive shaft correctly, so their distributors are frequently out-of-kilter, similarly.
What I tell them to do (as they'd need a special tool to extract/align that drive shaft) is just leave it alone, and mark the wire positions with the correct numbers, like on the distributor cap.
Adjustments to ignition timing (OK, this only should need to be done once) would be made as per regular way.
Picture of correct distributor orientation is in this link, with positions numbered: