The compression stroke is still the compression stroke. Leave the distributor on the bench for a minute. Once the cam is degreed, and the engine is all together, roll it around and set your valve lash. Then, roll it around to TDC. If you have both valves slightly open, you are on overlap. Rotate again to TDC. Both valves should have lash. Now you are on compression.......drop the distributor in and line up #1.
The part you are struggling with has nothing to do with ignition timing. The cam gear either positions the cam on overlap, or on compression stroke. They are 180° apart, so rotating the crank one turn moves the cam 1/2 a turn......180°, so it does not matter where the pin is.....at 6 or 12 o'clock. Rotate it one crank revolution and it will be opposite. When you degree your cam, rotate the engine until the lobe is on the base circle before you start trying to read any numbers. It will all take care of itself.