You put it in the same way you would if it was in the car. But it is a waste of time anyway. you have to prime the oil pump after you install the motor.
I think you're asking how to set it..right? If you prime the motor on the stand, you can go ahead and install the cam sensor, and set it using the Casper's tool. It has a battery in it and an LED to indicate the signal transition; that way the sensor's powered and you can set it. See www.casperselectronics.com and for the cam setting procedure see www.gnttype.org .