A good nights sleep has softened the blow grin

Kurt, fuel pump is shot but may be rebuildable, I'll be researching that more. For testings sake I rigged up an electric fuel pump and rebuilt the carb, theres definitely fuel in the bowl now grin and I can verify that the excelerator pump shoots gas in the carb when floored.

Dave, theres no telling whats in the tank. I guess teh sender is stuck as nothing comes out w/the line disconnected from the fuel pump. I'll be pulling & testing it soon. My rigged up fuel source didn't make a difference tho.

Mike, you know, I still haven't verified if the wires are in the correct locations on the dist cap, even when I swapped caps :O
After sleeping on it overnight I believe I'm not ready to punt just yet. I'll be checking the fireing order and pondering pulling the head after I try Jerry's suggestion grin

Roy, the spark looked more blue than orange so I figure it should be good enough to fire a good cylinder. I've got one of those site-glass type spark testers and I can clearly see spark even with my drop light shineing on it. I also replaced and properly gapped the points, condensor, rotor button, dist cap and new plugs, no change.....

David, Instead of borrowing a tester, I just decided to buy a cheap compression tester kit. I got to thinking (dangerous I know grin ) that I could use one and I now had a perfect opportunity to justify it grin

Jerry, after sleeping on it I've decided to not punt just yet. Even tho I can see all the valves opening & closing it still doesn't mean that the springs could have weakened or some debris etc., could be keeping them from closing all the way. I'll give your suggestions on the valves a good going over before I go on to the next step and pull the head.

Thanks for the suggestions
I'm not overly concerned if the engine is shot. I've rebuilt engines before and am currently enjoying tool'n around in my other unfinished project that required some engine work (72 ACVW Ghia) but it's been awhile since I've used a machine shop so I'll need to research & locate a local one. I know of two that I used in the past are gone.....

I'm not adverse to rebuilding this low pressure 216. I mean this one has 99K on it and I highly doubt I'd put that much on it should I rebuild it, so I wouldn't consider it a bad investment.
Whats the odd's on finding a pristine 235 or 261?
The good thing is I do have a complete stock 216 and baring anything major being wrong with it, thats a good base.

I've also started going through other parts of the truck and it's got a few holes in the floor board, the bed is shot, theres no brakes, all the glass needs replaced, the exterior needs some dents repaired & fully repainted and the interior including the very nasty bench seat needs a thorough going over so this truck isn't going anywhere anytime soon.
In any case, the engine is still the key and if it needs rebuilt/replaced, so be it.
Thanks
Dave