FWIW-- I've used sewing thread to align Pan, Gasket, Tray, Gasket, in maybe four holes before I got back underneath. Once you get a few bolt started you can pull the thread out if you feel it could cause a leak. I couldn't use Studs and long set screws because I have to go over the cross member of my '58' Ranchero.
Don't forget to drop the pick up in the pan and tie a string to it so you can find it and mount it before placing the pan. Old cars are way more fun : )
Of course I haven't had to do this for about 40 yrs