For fun, I checked the timing on my '92 4.0 Explorer OHV. Assuming I did it right (I think the SPOUT is the little connector with pink wires just off of the ignition coil, and I'm pretty sure that cylinder #1 is passenger front), The timing was about 180 degrees off. What would cause the timing to be off by 180? I just recently had a rebuilt engine installed, is there something they could have installed incorrectly that could cause this?

TIA

 

Did some further research, and wanted to give this update.
Because the engine runs fine, the timing has to be correct (or apporximately correct). This means the problem lies in how the timing is indicated or measured.
I believe that I'm measuring the timing correctly. I can hook the timing light up to my BII and get a good reading on the timing.
Because the PCM gets crank position from the crankshaft pulley, the pulley has to be on right. At this point, I think the most likely error is an error in the position of the timing marks. On the inside "lip" of the pulley, right next to the serpentine belt, are two marks stamped into the lip. One with a 0 stamped next to it, and the other with a 10. The pointer is mounted to the crankshaft postion sensor. Question at this point: Over the years where the OHV was used, were there different variations of the crankshaft pulley, with the timing marks in different configurations?

 

I think I've got this figured out. The "pulley" is a multi-piece assembly. The part that attaches to the crankshaft has the notches that the computer (via the CKP) uses to figure timing. The outer portion has the marks that I use to check the timing. Between these is a rubber ring. What can happen is the outer portion slowly rotates relative to the inner portion, causing the timing marks to be off. Fixing it would require a new crankshaft pulley, to the tune of $130, which could very well be inaccurate withing 20-50K miles. The important thing to take from this is that it could be important, in order to get an accurate timing measurement, to correctly locate TDC before hooking up the timing light.