<VV> I Can't Believe

[Craig Nicol]

I'd start out with a shot of ether to the carbs to sort out if it's fuel or
ignition.  

One question, why is the static timing so high? (Since you mention
secondaries, I assume it's a 140) Since you have fuel, spark, timing, and
compression, random thoughts that come to mind are water in fuel and a
plugged exhaust (had that once, drove me crazy trying to find it - took
weeks of troubleshooting). That engine had everything but wouldn't run at
all.

Like I said, I'd start with the ether.
Good luck!
Craig