When a person says the engine won't start just turns over, it does not tell us anything except the battery, starter and solenoid are working. Need to know if you have spark at the plugs or gas at the carb. Need to know if it fires a little but does not start or no fire at all. First check spark at spark plug and work backwards till you find spark. If you have spark and no gas at carb, work backwards til you find gas. If you have both, check timing. If it won't even fire, something is way off or disconnected.
Sounds like it was running but not perfect, then you tuned it up and now it does not start. You did something. Forget advance for now, don't need that to fire up. Start with the basics first. If you have approx. timed spark and gas squirting down the carb, it will start. You DO have to know if you are on compression stroke or exhaust stroke to time or you WILL be 180 out. Search here, the many ways to find the compression stroke for no. 1 cyl.
Somebody lost/broke the outside insulator I guess and used a "cork"? You may want to revisit that fix and use a few nylon washers. The terminal stud does need isolated from dizzy body. You'll get it running next try.
