Another thing to check besides timing is the order of spark plugs. Make sure the wires go to the correct spark plug.
One my buddies didn't do his right and we could not get it to run right (72' Caddy with 5xx cu in engine). He swore that he got the plug wires correct. I went on adjusting the carb mixture, doing my best. We both had our heads under the hood with the engine running. Gave a quick burst of throttle, BANG BANG, flames shot out of the carb. Could not quite hear for a few minutes. A week later, he found the problem, he had a few plug wires crossed.