i put up a post about this a few months back about my problem...
i've got an 89' 350 TPI with a bunch of aftermarket stuff on it. i was rebuilding the top end and when i was takign off the pass. side head i the nut for the ground strap in the rear fell into the dist. hole. this was my post...
i spent a few months doing all i could to get it out. i couldnt see it where the dist. cam gears met not could i retrieve it with magnets on a stick...
the relys from my post said that if it wasnt immediatly visible that is probobly fell into the crank case...
i put it all back together and cracked it for about a minute to prime the engine but when i connected the coil and tried to fire it up i got a few sputters then nothing. i replaced te starter olny to find that the engine WILL NOT CRANK AT ALL. i cant even turn with my hand at the flywheel which i could do when i replaced the transmission.
im running out of ideas and my last ditch effort to save it other than pulling the whole damn thing out was to try and turn the crank at the balancer but i wasnt sure of the strength or size of the bolt.
any suggestions or ideas are welcome and thank you in advance for any ideas.
if i do have to pull the motor and trans out, can it be "easily" done with a hoist in an average sized garage with out clearence issues under the car of above the car?

 

Can you turn it backwards? Sounds like it's got to come out. You can do it in an average garage with jack stands and a crane or chain block.