Well that's good. Looked like people were getting DE-fensive so I thought uh-oh I guess that means I came across as O-ffensive. I never mean to offend anybody here* but sometimes it happens without my even trying.
Yeah I lined everything up just like Isuzu says to do it - with #2 at TDC and both cam pulleys lined up withe their marks. Then I took the old belt off and put the new one on. I have no idea where the dots and lines were on the old belt before I took it off. I couldn't see them but to be honest I didn't look that hard because I knew they didn't matter. All these marks are just there for you to verify that you have the right number of teeth between each pulley when you put the new belt on.
I think what's confusing the situation (for me at least) is that the cams don't turn at the same speed as the cam pulley** so you can't relate crank position to cam position easily just by looking at the pulley. One thing is for certain: although Isuzu says line the cam pulleys up with #2 piston at TDC, there is also a point in the rotation sequence where the cam pulleys are on their respective marks and #2 piston is at BDC - otherwise your engine would not be running.
If you did what you suggested - took the belt off and spun the crank 180 degrees and reinstalled the belt, your engine would not run. If you did the opposite - i.e., kept the crank where it was but spun all the cams 180 degrees (the cams themselves, not the cam pulley since it's not a 1:1 ratio) I think it would run just fine because of the wasted spark ignition system. I don't know if #2 is on the compression stroke or #5 is on the compression stroke when lined up like Isuzu says but it doesn't matter because both coils are fired by the same trigger so if you took the belt off and spun the cams around so as to swap the suck squeeze bang blow cycle from one cylinder to the other, the engine wouldn't miss a lick since it would still be getting spark when it was time to bang. If you spun the crank like you suggested though it would try to blow when the valves thought it was time to suck, suck when the valves thought it was time to squeeze, and blow when the valves and thought it was time to bang. It would also squeeze when the valves thought it was time to bang of course - but they wouldn't care - they're lazy - even when your engine is running properly they think squeezing and banging are the same thing - they just lay there with their springs extended, doing nothing - letting the ignition system do all the work...
Buffy's the one who could put this discussion to rest. Not only has he got the timing belt covers off at this very moment but also the valve covers so he can actually see everthing that's going on. Come on Buffy - dish out some info here - how many teeth on the cam drive gear and how many on the cam? How many teeth on the crank pulley and how many on the cam pulley? Line that baby up like Isuzu said to do it - then crank away and see how many turns it takes to get to Bart's configuration and how many turns it takes to get back to the Isuzu configuration. I bet Bart's is exactly half way through the cycle. Oh, and BTW Buffy - eat your Wheaties first!
*except for SpudBoy of course. But he's apparently too busy enjoying his white bread and crackers in Idaho to post here anymore. If he ever shows up again though I'll do my best to offend him because he and his ilk actively try to kill my joy (and yours too if you like to take your VX off-road). Oh, wait... maybe he's decided to diversify his honky self and move to NC - I think I see him in the background in this video! http://www.youtube.com/watch?v=roFB7bGCAgc
**I'm guessing they turn at 2/3 speed since it's a 60 degree V engine but yet you turn the left (even) bank pulley 90 degrees after it "springs" to reset the cams when you've lost timing due to belt breakage, etc. But then again if you check the illustrations in the shop manual it looks more like 3/4 speed based on the sizes of the gears so who knows. Either way the cams are under driven and that make it hard to visualize what's going on.