Here is how I did mine and I checked with a timing strobe and my base timing was bang on.
1)Unplug the points from the coils at the bullet connectors. Remove the points cover. Set your points gap to spec.
2) Hook one end of your meter to one of the POINT SIDE bullet connectors of the 1/4 points and one end to a known good ground.
3) Turn your meter onto it's lowest ohm range or if you have the ones that beep when a connection is made then that could be useful too.
4) Turn the engine over slowly clockwise with the large nut under the points cover. Key doesn't need to be on.
5) When the points are closed, you should see that you have a connection between your leads. IE the resistance is 0 (or very close to it). When the points open the meter will change to infinite resistance. You want to find the point right where the reading begins to flicker back and forth between infinite and 0.
6) At this point, check where your timing marks are in relation to the pointer. If the "F" is not lined up with the pointer then advance or retard the timing plate by loosening the screws to the backing plate and rotating.
7) Go around again and double check your results to ensure that your meter just goes to 0 as your timing markers line up.
Switch the meter end from the 1-4 points wire to the 2-3 points wire and repeat the same process for the other set of points. In this case you only adjust the smaller points plate and not the entire plate like you did for 1-4.
9) Recheck your points gaps and adjust again. If you need to adjust the gaps then you will need to check the timing again as above. Points gap affects timing!
NOTE: Another method that you could try: Line up your timing pointer with the "F" mark and adjust your timing plate until the meter just begins to read infinte or no connection. A bit less trial and error this way I think.
Hope this helps. It can be a bit frustrating to set timing and gap since it's a bit of an itterative process. Go in with your patience full. Also, if you have cheap Daiichi points then you're in for a struggle. ha I would recommend OEM points on the OEM plate.
IW