The notch on the pulley should be inline with the pin
on the end of the cam, opposite side of the pin.
Cam pin points up, notch on pulley points down,
dizzy points on an 8V sort of towards the oil filler
on the 16V the dizzy it's self points the other direction
as the 8V does.
There is usually a mark on the base of the dizzy that is
the correct position for the rotor in the #1 firing position
What you have is fine for the ignition timing, but the cam
sounds like it is retarded or advanced too much, causing
sluggish peformance.
advance on a cam generaly gives low RPM increase, retard
gives high RPM increase, oor rather it mover the power of
the cam up or down the RPM range.
Cam timing is opposite affect as ignition timing, where more
advance gives high RPM performance.
I'm affraid you have to remove the front cover to check the
cam timing, could be worse, but a tooth or 2 is all that is needed
to play havoc with the power band