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Need a plan going forward - 1987 Evinrude 50 HP E50TLCUD

Hello, I've been trying to get this 1987 Evinrude 50 HP running for a few weeks now and I am at a loss of what to do next. It's been sitting for about 4 years before I bought it.

Here is the status:

1) I have confirmed both sparks plug make a white spark
2) I have replaced everything from the fuel tank to the carbs (all fuel lines, primer celenoid, fuel pump, and the fuel manifold I broke)
3) Compression tested, both cylinders came in around 155.
4) I have rebuilt the carbs about 80%. I reused the old jet and float as they seemed ok. I could have removed the orifices but they seems to be flowining fine when I sprayed carb cleaner through them.

It cranks but will not start. With starter fluid it might get a pop or two, but does not catch.

I am at a loss of what to look at next. I can go back and fully rebuild the carbs, but I'm surprised even with the carbs being not perfect, I would think it would at least run rough.

Thanks for the help
 
I pulled the flywheel and the key looks ok to me. Attached are some pictures.

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Seems to be in good conditon to me, came right out with a pair of needle nose pliers.
 

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You are not listening to someone who worked on outboards BEFORE that motor was built.---Put top plug wire on the bottom and bottom on the top.----See if it starts.
 
Orange blue should be on the top cylinder.----In my opinion this has been your issue all along.-----And possibly the reason it was not run for the last 4 years.----So just switch those orange wires and motor should fire up.
 
I just gave it a try, and I think I may have either overtightened or undertightened the fly wheel because the key broke almost immediately. I will get that replaced and try again.
 
I got lucky and autozone had a key that fit, and this time torqued it down. Thank you for your help, it is now turning over with starter fluid, which is a major improvement! Everything up to the carbs is new, all new lines, manifold, pump, choke solenoid, new line to gas tank with new squeezy bulb, and I cleaned out the tank as well. Next I am going to go back to the carburetors and fully rebuild them, new floats, needles, etc, and remove the orifices and clean in there. Looks like I need a special screw driver to do that though.
 
Ok final update, as I was gearing up to rebuild the carbs (again), I realized I had installed the fuel pump hoses backwards. So I switched them back and now this motor is running like a top. Thanks racerone for the help, I am truly amazed with your skill at diagnosing this.
 
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