Thanks for all the info guys. We spent all day yesterday working on it too – even skipped the Vikings game! (Still had it on in the garage so Dad could swear at them, though). I forgot to tell you the fuel pump is new too, but I know its possible we might have a bad one.
We replaced the coil and the points (again). Then we replaced the temporary carb with the original carb and it now starts and runs for about 30 seconds. We're so out of ideas that we're planning to ohm test the spark plug wires and remove the fuel lines all the way back to the tank to see that they're clear.
We'll give all of your suggestions a try and post an update. Thanks again guys, I knew you'd have some great ideas!!!