Checking the timing on a 2.4L

How do I check the timing on my 1996 Taco with the 2.4L?

It was suggested that I get Cylinder 1 up to the top (compression cycle) and verify that the distributor rotor is pointed to the #1 post. Would that work?

 

There is a bit more to it than that. You actually need a timing light. I am not sure the exact proceedure, but you disable spark advance, connect up the timing light, point it at the crank pulley and with the engine running, pull the trigger. The strobe will flash each time the spark plug for #1 fires. Then you adjust the distributor until the mark on the crank pulley is lined up with the correct timing mark on the indicator.