Incorrectly timed engine will run/idle just fine, but it can run real hot, causing starting issues.
You need to set the timing with a timing light. Do you have the correct timing mark tab? If you don't, you need to make it so.
Do that before you move on to the fuel delivery system (fuel pump/carburetor).
As I stated earlier, I believe that you are chasing two separate issues. You need to make sure the timing is properly set before you proceed any further.
Is is a challenge to avoid jumping ahead looking for the mysterious gremlin, but it will only cause you more frustration if you don't stick to the plan.
