1984 3.0L Cranks but won't start

Hi everyone!

Here is what I have: 1984 OMC Sterndrive 181 140hp 3.0L GM 4 cyl. The Boat had been sitting for about 2 years when I got it. The boat started but ran rough. It sat for another year and then I started working on it.
Here is what I have done to it: I took the engine all the way down to the block, I left the crank shaft and pistons in the block. The engine block and head surfaces were in spec with no sign of warping. I replaced all the gaskets on the engine. I also replaced the Battery, Fuel pump, starter, starter solenoid, Distributor cap and rotor, Plugs, wires. I tested the exhaust manifold of leaks.

The problem: The engine turns just fine (but seems different to me). I posted a video so you can see and hear what it sounds like. I have already checked the spark with a timing light and also by holding the plug near the plug. I have bright white spark from all wires and the coil wire. I checked the fuel flow and have gas in the carburetor like I should. I rented a compression gauge. I have no compression in any of the cylinders. Although it wouldn't be the first time I rented a tool and it didn't work Properly. I did test a cylinder on my truck and got nothing as well. I'm guessing it's the gauge. My oil pressure Gauge on the boat says I have 35-40 lbs of pressure while cranking it. I have 1/2 tank of gas. The boat has 545 hours on the engine. I have a rebuilt Rochester 2 barrel carburetor. All 5 Solenoids Tested good, and all fuses are good as well. I am out of ideas, any advice would help.

IS fuel new? New fuel mixed with old fuel in a dirty tank, FUEL system including tank and lines to engine might need some attention. Possible stale fuel, Have you tried starter fluid straight down carb throat & cranking! Is there a fuel/water separator on board has it been dumped ,cleaned,replaced? On another note is valvetrain in sync with ignition, Check with timing light on #1 cylinder using marks on engine block and harmonic balancer while cranking over engine. Double check directional rotation of rotor in distributor and firing order on cap and plugs. Are the valves opening enough? Keep us posted on progress.

johnnygjr said:

IS fuel new? New fuel mixed with old fuel in a dirty tank, FUEL system including tank and lines to engine might need some attention. Possible stale fuel, Have you tried starter fluid straight down carb throat & cranking! Is there a fuel/water separator on board has it been dumped ,cleaned,replaced? On another note is valvetrain in sync with ignition, Check with timing light on #1 cylinder using marks on engine block and harmonic balancer while cranking over engine. Double check directional rotation of rotor in distributor and firing order on cap and plugs. Are the valves opening enough? Keep us posted on progress.

Click to expand...

It is all new fuel. I removed and cleaned the tank which was not dirty at all. I also cleaned all the metal fuel lines and replaced the rubber fuel hose. I have not tried starter fluid yet but will Tuesday night after work. This system does not have a water/fuel separator. I am going to check the timing Tuesday night as well but didn't have an extra set of hands on Sunday. I will check the rotation as well. I didn't even think of that. The valves checked out fine before I put the head back on but don't know if they are operating properly. Thank you for your advice and I will keep you updated!