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If you pull the cap off now and are at compression tdc, the rotor should point right at your mark. If so, I would take the module to the parts store to get it tested and or just buy a replacement for $20. Diehrd is spot on about having a spare.
When you check for spark was it a strong TICK sound. I use one of those inline testers with the bulb at night. I would inspect the balance of the ignition system pretty close.
Is there are possibility you are 180* out? Test the resistance on the wires, inspect the plugs.
What happened when you spin the starter with the timing light connected?
I used my finger in the #1 hole this time and set it to TDC...I took off the Cap and the rotor was pointing @ #1. I took the module out and had it tested at the store - all tests passed. I bought another anyways that I will try later on.
I didn't pay much attention to the ticking noise when checking spark - just that I saw spark. Plugs looked fine when I checked spark on each one.
I'm not sure what I am looking for when I spin the starter w/ the timing light connected.
Super accurate way of verifying TDC is to find a piece of plastic tubing that will fit firmly in the spark plug hole, put a film of soapy water on the end that will form a bubble and then move crankshaft in direction of rotation slightly to form a bubble. When the bubble stop growing you are at TDC. Verify crankshaft pointer setting and mark true TDC if different than what the bubble tells you.
The idea is that with the timing light plugged in, the starter cranking , if all is good you should still get a blip from the light and see your mark in the timing tab
Man, I wish we could get this thing started! I have no ideas for you though I do have a question. Look at the line on your balancer. It looks dead on like it should be showing through the hole too. Also, look at the bottom of your picture, you can just see another white line on the balancer. Does the balancer have a groove line on it? are there more than one mark? I am reaching, I know.
I know its not on the car but shouldn't it show through like this?
Pull the valve cover , watch the valves ,, when intake valve closes your on the power stroke , by hand walk motor to top dead center then put your distributor in ITS FOOL PROOF .. No I am not calling you a fool .. Just saying it is the best for sure way to get it dead on
My balancer doesn't have that grooved line in it. When I installed it years ago I measured and labeled it in increments to mark TDC. That is just a mark that you see below.
I don't see how I can be wrong about being on the compression stroke - especially when it blew my finger out of the hole. But tomorrow I will pull the valve cover and verify the valve positions as suggested.
Could it be that that spark is happening, but that it is not strong enough to ignite?...Even though pick up coil and module test good?
I was thinking of placing a stick of dynamite in the secondaries of the carb - then lighting it - to see if I get an ignition event.
Pour some fresh gas in the carb. If it starts you have some stale gas in the tank. You seem to have everything right, but I didn't see you mention if the gas was good.