There are several details in your procedure that have been missed. I presume you've done it correctly, it just takes too long to type all that crap.
An engine needs just a few things to run.
1. A burnable fuel/air mixture.
2. A strong spark, delivered at the proper time.
3. Compression
I don't see any immediate problems with #1, you have already verified fuel supply, and there's no reason to think the carb is screwy. If all you had was a small puddle of fuel in the manifold, and everything else was good, the engine would pop.
What distributor do you have? Both point-type and HEI can be static timed easily enough--especially the HEI! You have verified that you have spark, but not that it is at the proper time.
You've not verified #3 at all. Now would be a good time to do a compression test.
The polymer distributor gear scares me. I thought those were for dry-sump engines only. (no drag from the oil pump-spins the distributor only)
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