*EDIT* i was totally wrong on this. the 3 marks shown in the first pic are not TDC. they actually indicate 10, 15, and 20* BTDC. there is a fourth mark that should be an inch or so to the right of those three which indicates TDC. i could not see it on the crank though so i went and pulled the crank pulley, timing covers, and timing belt...all for nothing! once i found (and cleaned out and painted) the TDC mark, reassembled everything, and set the crank to TDC, i found that both the cam and crank were properly set.
so there you go, hopefully someone else learns from my mistake.*EDIT*
i bought a vx a few months ago. just finished replacing the input shaft bearing, some transmission seals, the clutch kit, front brakes, and radiator. took it for a test drive and it was pretty darn good but when my wife drove it, she noted a slight stumble sometimes. i remembered that i had checked the timing when we first got it and noticed it was quite retarded, even after i advanced it as far as the dizzy would go. in my focus on getting the input shaft bearing done, i had forgotten about this.
so today i loosened plugs #2-4, removed #1, shined a flashlight in the hole while i turned the crank counter clockwise, and stopped when i got to TDC of #1's compression stroke. here are the marks on the crank pulley lined up with the pointers of the lower timing cover to confirm this.
looked at the cam pulley and sure enough, someone has installed the timing belt incorrectly.
while it looks nice to have the cam pulley nice and even, with the 'up' right at the top, that's not the right way. on the vx, the lines on the pulley that sit opposite to each other are supposed to line up with the pointers on the timing cover. you can see that these ones are one tooth off.
being that this is an interference engine, whoever did this job is dang lucky they were close enough that they didn't end up trashing the whole engine.
i'm off to pull the lower timing cover and get this sorted out now.