engine wont start

[Mr. Spool]

Well I just finished another engine swap, and I cant get it to fire up. I installed the distributor on the compression stroke, I believe this to be true becouse I covered the "1 cylinder with my hand and and turned the crank until it compressed on my hand I then inserted the distributor so the the rotor was facing the 1st wire. and am know trying to figure out why it will not fire up. I believe it to be getting gas, becouse it primes. I did however pull the gas line off and saw that it primed but when I went to turn it over it would not pulsate. is this a safty feature? I also have spark, and air, is there something I might have done wrong, maybe I misunderstand finding the compression stroke. also lastly, when I pull the plugs out they appeared to have some oil on the tips of them, is this possible? thanks.