Ok, I set the engine at compression TDC on the cam index and crank and the rotor lines up almost perfectly with the mark on the distributor body.

The problem must be on the fuel side. I'm thinking of pulling off the carbs, blasting them with carb cleaner and resetting them to baseline settings. When I checked and adjusted the floats as per Frank's advice on a previous thread I noticed one of the needle valves was sticking due to this crusty residue. I had the previous fuel pump leak oil into the gas and I think that formed into this dried mud type residue past the fuel filter. Maybe that stuffed up some passages.

Am I on the right track?