I believe that engine uses a feedback carb - that is, it has a variable jet that changes the mixture based on feedback from an O2 sensor. It's pretty much the same as throttle-body fuel injection.
You know this, but step back and think about the basics - for an engine to run, you need these things:
- Compression (which you've got),
- spark at the right time, and
- the correct air-fuel mixture.
It goes without saying that the cam and the crank have to be in sync too.
You've checked compression, so that's OK.
You've checked for spark, but I'm not sure if you've checked for timing. I'd check with a timing light while someone cranks the engine. It should be close to TDC. By close, I mean TDC to perhaps 10 degrees BTDC.
You say the timing marks are good, so I assume you've pulled the timing cover to confirm. When those marks are in sync, the rotor should be pointing at the #1 terminal, and cylinder #1 should be at TDC. (You can check this by pulling the #1 plug and confirming that the piston is near the top.)
Assuming that's all good, you have a fuel-delivery problem. At that point, you might get to learn more about carburetors!
In any case, good luck to you, and please keep us updated.