First things first, did you LOOK into the carburetor and verify that it's got fuel? Accelerator pump is your friend. Try to catch some and inspect. It's not water is it?
Second, pull a plug wire, hook up a spark plug and ground it, crank motor? Spark?
Is the distributor rotor turning when you crank it? Did the 318 run when it was pulled?
When I see this:
The first thing I think is, "ok, HOW did you check these things??" you looked at it, it hasn't been stolen and is still present?
Did you break out a multimeter? If so, what values did you get? Where do you have voltage, and when, and how much?
SOooooooooooo many times..."yeah the battery is good. I checked it." ok. What is the voltage? Oh it has plenty of that.
?? really? How much? "oh, plenty. I looked at it and it's fine"....
measure it. "Oh, it's got eleven, and about 6 when I crank it...."
BTW, 'new' does not mean "good". VERIFY that thepoints and related parts are functioning correctly. Got voltage at the points?