Ok, I tried some stuff and ran the engine for longer periods. I opened the low end needle to about 3 turns from close (factory says 1.5). This atleast made the engine run. So we now know that fuel is passing through the carb. Now comes the question about timing. The manual I have stats that the distance of the sensor from the magnet at TDC should be 7mm. Can someone confirm if this is correct. Is quite possible that I have wasted hours wherein the problem was of simple timing being way off??? At the current setting, the engine is running at very high idle and rpms vary like crazy even without me touching the radio or the needle. Could it be the timing?????????????