So pretty much rules a worn out engine. Assuming you have fuel pressure and fuel going to the carb, a decent spark I can think only of 3 things 1st, it is still flooded. My favourite is to close off both needles and turn the engine over for a couple of minutes to expell unwanted fuel. Other people remove the carb altogether, I think its just personal preference. 2nd are you using the choke correctly? And 3rd an air leak. Check for oil seeping out from the base of the barrel (the head bolts do come loose from time to time) or leaking around the carb.