In short, no you must reset timing. Reason: When you remount the distributor you will undoubtably have different belt tension than before. This may change timing. Setting timing on these engines is easy and can be done with the engine not running so you might as well do it.
Why do you want to remove the distributor?
need to check gap on points also is there a condenser sorry for dumb ?,s just dont no much about ignition systems also how do i go about setting the timing on the motor ? thanks for the help