What's the worst case scenario if I replace a distributor and it's a tooth off to the front or the back?

What's the worst case scenario if I replace a distributor and it's a tooth off to the front or the back?

Fiery death

Your car will run like shit, noticeably

The timing will be advanced or retarded.

So I could just pull it back out and replace it correctly?

Absolute worst would be having a piston hit a valve in an interference engine, but you'd have to be off by more than a tooth.

Stupid quesion but do distributors have any affect at all during a compression test?

I seriously doubt it but I want to know for certain.

Yes.

Ignition has no affect since there is nothing igniting.

The throttle being open or closed will though. Compression test with throttle all the way open.

Spark timing can definitely affect peak cylinder pressure. Just take out the spark plug before the compression test to be sure that the readings are genuine.