318 swap gone wrong?!

Probably gas washed from not starting. Bring number 1 cylinder up, check that distributor is pointing to number 1 on cap, if it is not then you maybe 180 degrees out, or way out of time. Pull the plugs, and give them a good cleaning, they are probably gas fouled also. Double check your plug wires for the proper firing order and see if she fires after all that has been done.