HH56 wrote:
The gear that drives the distributor is part of the oil pump on the 53 engine so yes, it requires some care to know exactly where the gear is positioned upon removal and not to rotate the engine after removing the pump. If something is moved after removal there is a procedure in the service manual on how to position the crank before removing the pump or how to position both for reinstallation. That will ensure the distributor can go back in with the rotor oriented correctly to make installing wires much easier.

You are correct in that the distributor can only go back two ways. It is still advisable to position the crank as the service manual suggests and checking where the rotor is positioned correctly before removing the distributor.