There's no "moving" or "resetting" the oil pump shaft in relation to the distributor. If you're having problems with either, it's likely a separate issue:
* Oil Pump Problems: If you're having oil pressure issues, the problem likely lies within the oil pump itself (worn gears, clogged pickup tube, etc.) or possibly a blocked oil galley. Replacing or rebuilding the oil pump is the typical solution. You would not adjust its position relative to the distributor.
* Distributor Problems: If you're having ignition timing issues (hard starting, poor running, etc.), the problem is likely with the distributor (worn bushings, incorrect timing, faulty ignition components). The distributor's position is adjusted via the distributor hold-down clamp to align the rotor with the #1 cylinder at top dead center (TDC). This adjustment is done independently of the oil pump.
In short: If you're experiencing problems, diagnose the specific issue (oil pressure or ignition timing) separately. The oil pump and distributor are unrelated in terms of their shaft positioning. If you're working on the oil pump, focus solely on the pump itself. If you're working on ignition, focus on the distributor and ignition system. A repair manual specific to your 1973 Ford F250 460 will be essential for proper procedures.
