OK, now I'm confused. According to the FSM posted above, I should put the tool on the new synch, then reinstall the snych with the tool arrow pointed 60- degrees to the right? And then as the cam gear meshes it will turn itself back to 15-degrees? Let me explain:
With the old shaft in place, and the sensor off, I turned the engine to TDC. The half-moon piece can be seen turning, and at TDC it is basically all to the right side. The alignment tool fits right on the old sensor still in place when the engine is at TDC. The arrow on the tool points back to the firewall exactly in line with the engine centerline.
So I then removed the hold-down and pulled the old shaft out. (Understand the old shaft needed to be pried, pulled, hit, and yanked out, it did NOT come straight out due to a lot of corrosion.)
The oil pump shaft did not come out and flopped over a bit, so putting the new synch shaft in was difficult. The cam gears meshed pretty easily, and after about 20 tries, I got it to set down in all the way, with the arrow on the alignment tool pointing exactly on the engine centerline toward the firewall; or exactly as the old one came out. Can I go wrong with this method? If everything is exactly as it was, how can the EFI timing be off?
As a tip for others, use a hex driver that fits into a screwdriver to slightly turn the oil pump shaft until it lines up. The position of the oil pump shaft does not matter.
I ended up changing plugs and wires; with everything apart it was easier now than later. The plugs looked bad (truck has been sitting for 4 years) plus I took them all out anyway to make turning the engine to TDC easier. The gaps were way off. I also broke a wire pulling it off, so new wires became a necessity.
I planned on changing the coolant anyway, but removal of the lower intake manifold made it a requirement.
Finding quality, inexpensive gaskets was difficult, at least for the intake. Autozone has a kit, but its $100. I ended up getting a Fel-Pro (Federal Mogul, made in US & Germany) kit for $65. I also bought a new coolant temp sensor since the access is very easy now.
Since I started the project of reviving our old Explorer Limited, which has sat for 4+ years, (and it ran right before this project) here is what I have done:
New RF brake line, new RR brake line, bleed job, new fluid
New power steering pump & pulley
New belt tensioner pulley
New CMP sensor & synch shaft
New upper & lower intake manifold gaskets, new valve cover gaskets
New Peak coolant
New spark plugs & wires
New coolant temp sensor
Oil & filter change
New battery
It will also need 4 new tires before I can drive it again, but including the tires I think I'll have less than a grand into it. Although its not remotely in the league of, say our Land Rover LR3, to be able to have a decent and reliable vehicle for less than 1k I think is a good deal. Hopefully I'll have this running by Monday and post how it all went back together and ran. Then, anyone considering doing this on a 4L OHV V6 will have a bit more guidance.