You can date the engine by the tables on either of our main websites.
Tappets are 1/32" cold, then run until the engine is warm and reset to 0.012"
Magneto timing is with the zigzag mark on the flywheel rim at TDC, the points should be just opening. The sprocket on the magneto is on a taper for adjustment, but if you haven't had it off the shaft then it should just be a matter of getting the timing right and fitting the chain.
Peter