I don't see why. Can't tell it' s on the number 2 hole until you do set TDC and then check.
To check that the cam is properly set for timing with or without chain wear do the following...
Set accurately to TDC on the #1 cylinder compression stroke using the ignition timing pointer and the 0 (zero) mark on the crank pulley. It's important that you turn the engine clockwise up to, and stop on the mark. This may take many tries as it easily overshoots. If you, (when you) overshoot, back the pulley up at least 1/4 turn and try again. This will keep the tension side tight and the reading most accurate.
Once accurately set, look down through the hole on the cam sprocket (a flash light is handy for this) and you will see a Vee or U shaped notch on it's back side and tight above it on the cam retainer is a small horizontal etch mark.
(you can just make out the etch mark directly below the top bolt. It's quite small)
As shown the notch must be below or just slightly to the right of the etched mark. If the notch is over to the left of the mark the sprocket should be removed
* and advance to the next number. This one as shown is on the #1 hole. Moving it one hole to number 2 will retard the cam about 4 degrees or roughly the width of the etch mark. This is perfectly timed and is an L16 or L18 which came from the factory on the #1 hole. The L20B was sent out on the #2 hole.
All that matters is the relation of the notch being to the right of the etch mark, or just below it. Doesn't matter what hole you end up on. Everything else is secondary. This is why setting the TDC accurately is so important.
There are three holes intended for making the cam timing adjustment. Never ever seen the #3 used. The sprockets and chains might wear but they don't stretch. People change them when they replace the guides so they never get to wear out.
* For pity's sake do NOT loosen or attempt to remove the cam sprocket without learning how to block the timing chain tensioner from falling out!!! Don't be that guy.
