right well like you said thennIt will be fully open with the U of the pulley and the blind hole in alignment...unless of course it is 180 degrees out of position, in which case it will run rough! If it goes like stink it will be right, if it doesn't you better take off the exhaust and make sure the top of the port has a smooth flat surface all the way through the pv to the bore of the cylinder
when you turn on the ignition key the pv should do a couple of cleaning sweeps, you should hear the servo motor noise 'zzzt zzzt' as it does this...then after the cleaning that U shaped cutout should be in perfect alignment with the blind hole you can see at the top.
you should investigate whether the pv has become seized in its current position maybe...is the pv servo electrics plugged in?
this one isn't pinned any longer