I have a rebuilt block and head. Put it all back together and now it won't start. I am getting spark from hi tension lead to dizzy but no spark at the plugs.

A few possible issues:

distributor rotor bad
bad distributor cap
very weak spark
timing way off

I suspect that it may be the timing AZ. When I put the dizzy back on I followed the guidelines but not sure I did it correctly. I think my next step is to find tdc on #1 cylinder and rotate dizzy so that rotor head points to correct spot on cap. Would you agree with that? I don't know how to test a dizzy cap or if there is even one. Rotor seems to be ok. Your thoughts?

Yep. I'd bet on timing being bad before a bad cap, but I have had a bad rotor button that didn't make contact and wouldn't send spark.

Go back and redo your timing process, and also, double-check your plug wires for continuity. If you're testing for spark by using a plug wire with a plug in it, grounded to the engine block, and your wire is bad, you could be wasting your time.

Keep us posted?

I decided to go with new cap, rotor, points, condenser and wires.... will see what that does.

Well I replaced the cap, rotor, condenser and new wires... I have spark to the plugs now but still no start. I am getting a back fire through the exhaust.

That's progress. Now, let's triple-check timing. Backfire means the intake charge is igniting late.

It's been awhile since I was able to work on the car, life and such. Anyway, I have it sitting at TDC on #1 cylinder and the rotor on the distributor is pointing at about 9 O'clock. I need to get it to point at 11 O'clock to align with the cap but I can't get there by moving the distributor. I can get close but not enough. Do I have to disassemble the dizzy to get it lined up correctly?

It's been awhile since I was able to work on the car, life and such. Anyway, I have it sitting at TDC on #1 cylinder and the rotor on the distributor is pointing at about 9 O'clock. I need to get it to point at 11 O'clock to align with the cap but I can't get there by moving the distributor. I can get close but not enough. Do I have to disassemble the dizzy to get it lined up correctly?

i agree with AZhitman it defensively sounds like a timing issue