Southstown27,
Do you have any oil pressure at all? I had a similar problem where the the distributor was not in all the way. There's an adjustable collar that has a set screw at the bottowm of the distributor that can prevent the distributor from seating into the oil pump. My 235 would actually start up and run but not pump any oil. I'm embarassed to say it took me a while to figure it out.
