Just rebuilt mine last month and had no issues with the pump shaft pulling out. The only kick in the balls imo would be the clip on the shaft pulling off and dropping into the pan. Mine did not. Distributor came out nice and easy, and the shaft stayed put. Mark your old distributor before pulling it, and mark the new one in the same place. I marked the PIP sensor insulator and the shutter wheel to keep the timing in line. Keeping them in line along with marks made on the housing and block should be all you need. No timing light needed, but still recommended, just because.
I rebuilt my stocker with a Motorcraft PIP sensor (stator), and TFI.