[ERA535]

scr11,

As the old saying goes, if you have fuel and you have spark, then double check because it must be running!

Obviously you don't have either fuel or spark.

First - you do have (good) fuel from the accelerator pumps, right? That SHOULD mean you have fuel into the combustion chambers. You said you barely stepped on the gas -- well try depressing the accelerator two or three times or put a thimble full of gas directly into the carb.

Next - you said you have spark because the timing light works - therefore you ASSUME that the spark plugs are firing......

There is one good way to find out for sure - remove a plug and crank the engine - maybe the plugs are fouled (what kind of distributor are you using?) or maybe insufficient piston clearance closed all the electodes (if that is possible with your engine - I am not familiar with your kind of engine).

Who assembled the engine?

Good luck!