Looking at the arched cutout on CPS where a bolt goes through and attaches the CPS to the head, is the range of timing you have w/the CPS. It is common for the shaft on the CPS(or distributor) to get moved once removed from the engine, so even if you mark the mounting bolt's location on the CPS when you go to instal it you are usually outside the timing range of movement.
When you go to install the CPS, either follow the manual, the mark you made(if you did), or the wear mark left by the bolt as a starting point. You will then turn the CPS forward/backward to retard/advance the timing to get into specs. Often you can't get it into range, so you would pull the CPS/Distributor out enough so that you can then move it one tooth forward or back depending on where the timing was, and then try to set the timing. It can take a little time, especially if you move to many teeth at a time or go the wrong direction.
I found timing the 7m a bit more frustrating than w/my other Toyota engines, but then again I kept finding leaks in the intake and bolts that were missing, which is just part of the joy of putting an unfamiliar engine together that someone else took apart.