The easiest way to set timing is to remove the plug on the side of the pump and use a mirror to look for timing lobe/pin and center it in the hole. This should coincide with TDC for cylinder #1.
Next look at the data tag on the side of the timing case/front cover assembly and see what the stock timing was set at. On my 95' junker, it was set at 12.3*.
Next measure the diameter of the dampner. Pi x diameter = circumference.
Basically if you wanted say 20* on my truck you do quick math and realize you need to advance the timing 7.7* or (7.7/360) times the diameter. On my truck, to go up to 24* total or 12 more * advance, I had roll the dampner back about .84". I had a mark for TDC on my dampner so I simply made a mark .84" back from TDC.
Next remove the pump nut. Then make sure motor is at TDC before you use a puller to remove the pump gear. Once the gear is loose, roll the motor back to your mark .84" in my case. Check with you mirror to make sure the pump pin/lobe is still centered in the hole. If it is, clean the pump shaft and gear as best you can with brake parts cleaner.
Install the pump gear and give it a few small wacks to help seat it onto the shaft. Install the lockwasher and nut and tighten to about 15 ft lbs. Check timing by making sure the pump lobe/timing pin is still centered in the hole when the motor is on the timing mark you made .84" before TDC mark in my case. If the timing is correct, torque the pump nut to at least 144 ft lbs but 150-160 is preferred so it timing is less likely to slip.
This proceedure is very similar to the plunger lift method. Instead of fiddling with the fuel line, DV socket, and machinist dial, you simply remove a plug, and turn the motor over till the timing nob/lug/pin thing is centered in the hole and you make one precise measurement on the dampner.
In my opinion, people spend too much time trying to get timing set to an exact degree. 23.75* vs 24.25* is going to run the same on most trucks. If you need more exact timing, you'd better have a timing light handy because DV's, Turned Pump barrels, injector pop off pressure, lift pump pressure, line size, etc all play a role in where the final timing ends up.