howdy. do you have the alignment tool? IIRC, you set #1 to TDC, remove the pickup sensor, install the tool, install sensor and align in a convenient orientation to your specific set up (wire clearance etc), and clamp in place, install pickup sensor. the sensor indicates compression or exhaust stroke not specific position of the cam shaft. your TDC does not need to be micrometer accurate.
the above is what i did. and haven had any problems.
as a side note, i took mine out at 500 mile inspection. i took a pic of flag position, marked with a sharpie and removed to inspect drive gear. i just positioned to same when i reinstalled. i did not bother getting #1 to TDC.
Hank