Dad,
Sounds like timing to me. Two ways to get lined up right: hand crank engine until the timing ball on flywheel lines up with pointer- you have a 50/50 chance of being at TDC on compression stroke, so line it up, then set up the distributor accordingly, and try to start it. If you're in the neighborhood, you should get at least some coughing, attempting to fire. If not, you're 180 degrees off. Otherwise, you can hold your thumb over #1 spark plug hole, crank the engine and wait for the compression stroke (you'll feel the blast on your thumb) while watching the rotor (w/ dist. cap off). Note the position of the rotor right after the compression blast- that's where you should set up #1 plug post on the distributor.
I learned all this from lots of trial and error and from these great stovebolt.com guys, so I hope I can pass it along to you. Good luck, you'll get her going! Don't let that weak compression discourage you.
