The plastic peg for timing the pump is in the pump you remove it from its store position and insert it through the timing set hole that you have been struggling to see into, you do this with the coupling loose on the pump drive, on the engine rotation thing well it all sounds good enough if both rocker arms are loose and you are turning the engine clockwise from the front, the usual issue with under speed is down to cable adjustment or worn out foot peddle, so pull off cable from speed control also remove or make sure the 2 (Two)stop control cables are not holding things in the wrong spot, the 1 stop cable goes to the Hydraulic tank shut off lever, then try things with your hand on the pump speed control, the rev counter works off the alternator via the connection marked W this puts out A.C. power 12 volt to the rev counter, the g/box will not select a speed if the engine speed at idle is over 900 rpm, the hydraulic fan speed should go to high blow at I think around 1600rpm, all this detail should be in your service book, I will check on the engine data for static timing as I cannot recall but there is also dynamic timing data, all that involves is engine running at pre set speeds to check the Alpha drive to the pump.
good rims tctractors