Just a line from an engine machinist...1) Know "firing" sequence 2) locate TDC for #1 piston - on the "firing" revolution, NOT valve rock-over, if applicable 3) set the timing for cams, valves, spark / injection device, etc. - the complete system - to "fire" position, 4) "dry" turn the engine by hand with any spark devices grounded to check for valve clearance - now is a good time to use the playdough ball method to check valve clearance 5) remove playdough and run through final check for first start-up through run-in 6) it is often advisable to run in the engine under a good, healthy load right off the beginning if seating piston rings is significant to the application. This is often more significant than cam break-in, which occurs simultaneously if done correctly.
A continuity tester can be used to exactly set contact breaker points, distributors, other electrical devices - likewise a vacuum / pressure tester can be used to set valve opening to the last half-degree or better, depending on valve seal.
Good Luck!