I would think that there should at least be some attempt to fire even if timing its off, and even if the engine is worn out. It might fire out of the carb, or exhaust or at least sputter if you have spark and fuel. Easy on the gas down the carb too.
I would go back through the points, plug gap, distributor cap and rotor and cap, point gap and timing...and then try it again. Pay attention to plug and point gaps. Condensers also come faulty out of the box. If nothing seems to work, try your old condenser for giggles.
