I'll add a note here.
It does not matter how the distributor body is oriented. The only thing that matters is that whatever high-voltage terminal post the rotor is pointing at when the #1 cylinder is at ignition-top-dead-center (as opposed to exhaust-top-dead-center) is connected to the #1 cylinder and the rest proceed clockwise in order.
That said, the distributor body is normally oriented so that the electrical connections come straight out to the left (driver's side, about 3 o'clock when viewed looking down at it while standing in front of the truck) and the vacuum can comes out forward and to the passenger's side (about 7 o'clock when viewed looking down at it while standing in front of the truck).
The rotor can also be put in any which way, as long as the high-voltage terminal the rotor is pointing at on #1 ignition TDC is connected to the #1 cylinder.
That said, the rotor is normally installed so that the rotor is pointing at about 5 o'clock when viewed looking down at it while standing in front of the truck when the #1 cylinder is at ignition TDC.
The #1 cylinder rod throw for every GM V8 is aligned with the keyway in the crankshaft to which the crankshaft pulley mounts. This is visible in the front of the engine. As the GM V8s are 90* V8s, the rod throw is at 45* clockwise from straight up when the #1 cylinder is at either TDC. So the #1 cylinder is at TDC when the keyway on the crankshaft pulley is at 45* clockwise from straight up, or 1:30 o'clock when looking at the front of the engine.
Note I have distinguished between ignition TDC and exhaust TDC. That is because the crankshaft rotates twice for every rotation of the distributor, and there are two TDCs on each cylinder per distributor rotation. On ignition TDC for each cylinder, the valves are closed on that cylinder; on exhaust TDC for each cylinder, both valves are partially open. You can test which TDC you are at by blowing air into the spark plug hole with an air compressor air chuck. If you can blow air through the cylinder, this is the exhaust TDC. If all the air comes back at you and tries to push the air chuck out of the spark plug hole, this is the ignition TDC.