Need help with rebuild
SPARK, COMPRESSION, and FUEL
In addition to some great stuff above,
SPARK AND SPARK AT THE RIGHT TIME
1....Never take anything for granted. ASSUME the gas in the car is too old or contaminated. See if it will fire on a shot of fresh fuel or starter fluid "down the carb.
2...See 1 above. Never assume the timing is right until you CHECK. Is there ANY possibility the cam timing is off? There is a procedure in the shop manuals to check this. If not you can estimate intake valve opening cycle and check it
3....See 1 above. CHECK the timing marks. I don't know how bad slants are, but some v8s have had issues with the dampener ring slipping, making the marks innacurate. Use a piston stop
3....THEN SET your timing. You can check timing with a light "on the starter." I would set it at least 5* adavanced, that is 5 BTDC or a bit more.
Otherwise, STATIC time it. Pull no1 plug. Stick your finger in, or compression gauge. Bump the engine til you feel compression. You may need to go 'round a couple times to "get" what you are looking for. STOP when compression 'just starts.'
Now bring the engine around to WHERE you want timing, say, 5--8 BTDC. now look at the distributor. The rotor should just be "coming to" the no1 plug tower. You will have to move the dist. body to adjust the points opening / or reluctor position. Adjust FROM retard, moving towards advance, to set the points "just open." If electronic, set so the reluctor is centered in the pickup core. "Lean towards" more advanced.
4....Use a multimeter. Check your coil + terminal cranking voltage. Should be "same as battery" and at least 10.5V Check your spark out of the coil tower. CRANK USING THE KEY not by jumpering the starter relay. You should have a good hot 3/8--1/2" long spark. use a wire core wire to check, not a resistor wire
5....NOW!!! You have checked cam timing!!! You have set and checked the timing marks!!! You have set / checked ignition timing and you have good spark
COMPRESSION
6....CHECK the valve lash setting if they are adjustable. CHECK the compression.
FUEL
7.....Use a small shot teaspoon? or so of KNOWN FRESH fuel down the carb
At this point there is no reason on earth why this engine will not fire, and run for a few seconds
8.....Once you GET to the point above, if it won't STAY runnning, time to check fuel supply, IE tank, line, pump, and maybe the carb is gummed up.