Crank needs to be at 26degrees After Top Dead Center. If using the stock pullies, there is a notch cut in the steel pulley that identifies that location. If using the BHJ balancer and aftermarket pullies you'll need to transfer marks back for the proper position.
With the crank in the proper position, you can then set the CAM sensor position.
See this thread with a post by XR7 Dave on how best to set the CAM sensor if you don't have the tool.
http://www.sccoa.com/forums/showthread.php?t=83849&highlight=cam+sensor+position
If you're doing the stock lifters with stock rockers I believe you just set them in the pedestal and set the bolts to torque. If you have a different cam though you'll have to check the geometry. I'm not sure on how to do that but someone else should know.
here is a thread on valvetrain stuff.
http://www.sccoa.com/forums/showthread.php?t=52949&highlight=cam+valve+clearance