So, I'm still having some issues, though I've taken Peter's advice and reached out to Andrea for some assistance. I've come to find the original bearing seals for the 479cc engine and the bearing seals for the 499cc engines are completely different and don't play well with other parts. This makes the timing chain extremely loose and/or the oil slinger bolt too close to the timing cover. I'll explain the steps I've gone through in an effort to make this convoluted mess readable!
After installing the new bearings (with cut outs for timing chain) and the new bearing seals that they sell, the chain was tight, but offset. (I know you can pull the cam out a bit, but I don't think it should be off center for the distributor) So the timing chain wasn't right, then when putting it together with the main bolt through the oil slinger, the oil slinger gets sucked up into the timing housing so much that the knobs on the back of the oil slinger come into contact with the ribs on the timing housing preventing the engine from spinning. My thought here is a need a oil slinger from a newer engine that is hopefully deeper.
If I use the original crank bearing seal bits, the oil slinger spins freely, but the timing chain is extremely loose, using the old/original sprocket or gear. If I use the new gear that came with the chain, the chain is tight, but it is extremely offset from the crank sprocket, as pictured.
I'm working on finding a combination that works here, but it seems like it's a combination of old and new parts, some of which I don't have that would make this work.
So I'm a bit flustered trying to figure this out. My theory is there is a shorter timing chain that used to be available, as the new timing chains are way to loose to be comfortable mounting it up on the old sprocket. (It is not worn, I bought a new old stock one and it is the same).
Everybody loves pics, so here are a few. Just thought you'd all be interested to see how this plays out. Not easy.