If you can get the cam sprocket on the cam with the upper guide out, it becomes a puzzle of making it all fit rather than a question of whether there's slack between the IP and crank.

As I understand, IPs don't like to be spun backwards. I figure with no fuel pressure into the delivery valves, no resistance in the injection lines and very slow backwards rotation of the IP, you can avoid removing the IP to give it a full rotation to some unindexed position that corresponds with #1 TDC.

Sixto
87 300D