timing and time again, timing question Options

[doobie123]

hi ya'll

let me just say up front, i'm pretty new to this so if my questions seem obvious, sorry
so i'm working on a 75 with a 2.0 and 5 spd. i have the engine and trans out to do the clutch and cleanup the bay etc. before i put everything back i want to set the valves.
i brought #1 piston to TDC. i did this with the use of a scope and since the engine is out, i can see the piston. when i did this, i took the cap off the distributor, and to my untrained eye, it looks like it's 180 degrees out but, i'm not sure because, well, i'm green. so my question is, is it 180 out? if so, can i just pull the distributor and rotate it where it need to be? if so, am i moving the line on the case to match the rotor or the rotor to match the line?
i guess i should also say, i bought a non running car. i had it running before pulling the drive train but just for a bit and only drove it up and down the block so i really don't know the history.
thanks for any help

[doobie123]

thanks for all the info guys. i got it figured.
cheers!