Hot cable is likely due to poor connection, either at the battery terminal or at the lug on the starter switch. Take them off and make sure that they squeaky clean. While you are at it do the same with the negative terminals. If it still won't start and the cable still gets hot, at least you will have ruled out the connections. Cleaning all starter wire connections should be considered a part of ones general maintenance schedule.
If it still won't start, you may have a bad starter, regardless of how long ago it was rebuilt. Stuff happens.
