I was trying establish what recent experience I have with the BBC crank position sensor. I'm not sure if a 502 is considered Gen VI or not? What I observed with both the L31 Vortec 5.7 liter CKP alignment (pics above) and the 502 CKP alignment is the trigger wheel tooth is half way across the CKP sensor when piston #1 is TDC of the compression stroke.
The pics below are not related to your original question. I'm showing pics of my dual trigger distributor using the L31 / L29 distributor. I relocated the CKP to the distributor, instead of installing the CKP parts in the crankshaft (saving a lot of work). The dual trigger distributor successfully ran a SBC to 5700 RPM's on a engine dyno. The alignment between the CKP and CMP needs to be precisely aligned for the engine to run and complete the CASE learn successfully.
dave w
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