Generally yes. You have to make sure the engine is at TDC #1 first however.
It doesn't REALLY matter where the rotor points as long as the rotor is at the correct terminal on the cap to fire that cylinder, but TDC and pointing at #1 is an easy reference that is pretty much universal.
Looks one tooth off to me. It doesn't matter IF you can rotate the distributor far enough. Usually the wiring or clearance makes rotating the distributor a bunch, difficult. That's a weird distributor, usually with GM the wiring faces the drivers side of the vehicle, but if it works as you have it, go for it.
The stud for the distributor hold down is a nice touch.