Just finished a 383 for my dad for a 78 power wagon he is redoing. We used a Hughes engines hydraulic and it degreed in way off. Dave at Hughes advised me to get the Intake valve closing point as close to the card as possible and not worry about centerline so much. His point was that when the intake valve closes, the cylinder starts to build compression (power). I was able to "nail" the closing point, and after going back and checking centerline, I found it to be 1.5 deg. off. Also just to add to someones comment about machining errors, The crank key, timing chain, and camshaft all could be the culprit, not just the cam. 1 degree off, you will never see a performance difference, 2 degrees maybe a little, and 3 degrees definitely needs corrected.