Even if you turned the dist, the wrong way,it wouldnt hurt snything,it just would gurgle a little,you'l know when it starts pumping,thats about the time your drill will bog right down,prelube until oil is coming out all the tips of the pushrods/rockers and running down into the ball socket area of the rockers.the balancer,i would replace if the rubber is cracked at all,an old balancer will shorten the life of a new engine if its worn,they are not to expensive.