If the valve timing and tappet clearances are OK, you have spark and fuel but still won't start, chances are the ignition timing is miles out.
Put a small 6v test lamp between the points and earth. If the points are clean and gapped properly, with the ignition on, turn the crank slowly anti clock wise with the spark plugs out untill the f line on the rotor lines up with the ignition timing mark through the hole at 2 oclock just off the timing back plate. You have this hole in one of your pictures that you posted.
As the two line up, the light should come on. If it don't, move the points back plate left or right to correct it.
If there is not enough adjustment in the elongated slots, chances are, the complete cover that the points back plate is fastened to is not in the correct position. You might not think this cover can go on wrong but it can.
You may have to loosen the cover that the clutch cable goes through while you do this as it buts up to the cover that you are trying to adjust and restricts movement of the timing houseing cover.
Good luck.
Sam.
