Having done this, more than a few times and in various ways, its always been my preference to build it out on the bench and then install it. That way you can set the points, static time and set the valves at a more friendly work height. But I always drop the frame over the engine, its just sooo much easier, but I'm not young anymore either. You can do it either way, your build. (Regardless you'll need two people) Its also just easier building out on the bench, everything you'll need is right in front of you. Take your time, you'll do fine.