BOB! I apologize. I told you to set the gap on the F1 mark at .015 and not thinking about it, I neglected a zero. The guage is .0015 that is set it to 1 1/2 thousandths NOT the 15 thousandths this IDIOT! said. 
If you set the gap to 15 thou.........there is your problem right there!
JEEZ
BUT........if you are set to .0015 and it still doesnt fire............ then continue reading. sorry bout that
It appears you arent getting enough voltage to fire the plugs, or something is absorbing the current before it gets to the plugs. By setting the point gaps to .0015 (1 1/2 thousandths) on the F1 mark and the same for the F2 mark, it isnt possible to mis time the bike badly enough that it would not start and run. Having wet plugs indicates an ignition problem.
If you didnt have vacum, you couldnt get wet plugs and being wet dismisses a fuel problem. Since the starter apparently is working (I assume) we can start tracing the ignition circuit from that point. Inside the headlight shell (I know you dont have one yet) there is a three wire connector (3 in/3out) The wires will be orange, orange with white stripe and green with yellow stripe. This connector bridges your starter button and engine kill switch. With the ignition switch turned on, and the kill switch on, you should have 12+ volts (battery voltage) on the orange with white stripe wire. This orange and white wire is the 12v+ power feed to both of your coils and is connected to the positive terminal on the coils. The wire will branch into a "Y" connector to supply leads to the coils and will remain coded orange with white stripe. Check voltage at the + connection to both coils. The + terminal on the coils is 12v positive input. The negative terminal on the coils is 12v POSITIVE OUTPUT. The left coil negative terminal will be a white wire and runs to the left breaker pointset. This coil and pointset fires cylinders 1 and 4. The right coil negative terminal will be a black wire and it runs to the right pointset firing cylinders 2 and 3. Check voltages at each connector through the wire run for the ignition circuits. My bike shows a 1/2 volt drop between the voltage measured at the battery terminals and the ending voltage in the ignition circuit. If input voltages are OK, and the points are breaking with a spark. (remove points cover and touch starter button. You should be able to see and hear the points breaking) I would pull a spark plug, snap the plug wire on it and ground the threads of the plug against an engine fin and turn ignition switch on, hit starter button and visually check the plug gap for firing/arcing. If the plugs do not fire, my inclination would be to check plug gaps (should be .028) and then plug caps. Its possible for all four plug caps to have "aged" and slowly developed increased resistances.
I interpret the fact of the four spark plugs showing different degrees of wetness as indicative of uneven vacum, but the engine should still at least fire and try to run.
Earl
If you set the gap to 15 thou.........there is your problem right there!
JEEZ
BUT........if you are set to .0015 and it still doesnt fire............ then continue reading. sorry bout that
It appears you arent getting enough voltage to fire the plugs, or something is absorbing the current before it gets to the plugs. By setting the point gaps to .0015 (1 1/2 thousandths) on the F1 mark and the same for the F2 mark, it isnt possible to mis time the bike badly enough that it would not start and run. Having wet plugs indicates an ignition problem.
If you didnt have vacum, you couldnt get wet plugs and being wet dismisses a fuel problem. Since the starter apparently is working (I assume) we can start tracing the ignition circuit from that point. Inside the headlight shell (I know you dont have one yet) there is a three wire connector (3 in/3out) The wires will be orange, orange with white stripe and green with yellow stripe. This connector bridges your starter button and engine kill switch. With the ignition switch turned on, and the kill switch on, you should have 12+ volts (battery voltage) on the orange with white stripe wire. This orange and white wire is the 12v+ power feed to both of your coils and is connected to the positive terminal on the coils. The wire will branch into a "Y" connector to supply leads to the coils and will remain coded orange with white stripe. Check voltage at the + connection to both coils. The + terminal on the coils is 12v positive input. The negative terminal on the coils is 12v POSITIVE OUTPUT. The left coil negative terminal will be a white wire and runs to the left breaker pointset. This coil and pointset fires cylinders 1 and 4. The right coil negative terminal will be a black wire and it runs to the right pointset firing cylinders 2 and 3. Check voltages at each connector through the wire run for the ignition circuits. My bike shows a 1/2 volt drop between the voltage measured at the battery terminals and the ending voltage in the ignition circuit. If input voltages are OK, and the points are breaking with a spark. (remove points cover and touch starter button. You should be able to see and hear the points breaking) I would pull a spark plug, snap the plug wire on it and ground the threads of the plug against an engine fin and turn ignition switch on, hit starter button and visually check the plug gap for firing/arcing. If the plugs do not fire, my inclination would be to check plug gaps (should be .028) and then plug caps. Its possible for all four plug caps to have "aged" and slowly developed increased resistances.
I interpret the fact of the four spark plugs showing different degrees of wetness as indicative of uneven vacum, but the engine should still at least fire and try to run.
Earl
