Engine won't start

I have an 87 ski nautique that I purchased last fall and I'm having problems getting it to start. A little background info on boat, it has sat for the last 14 years in climate controlled storage and not been run. Here's a list of what I've done so far to boat,
Drained bad gas
New fuel filter
New fuel pump, old one was clogged
New holley 4160 marine carb, old one leaked gas out of a few gaskets after pump replacement
New plugs and wires
New cap and rotor
Distributor already had ei conversion done by po
New starter, battery and battery cables.
The motor wants to fire but won't. I've double and tripped checked that #1 plug at TDC on compression stroke, after I pulled distributor and primed oil pump.
All electrical connections and wires are good from dash to motor. Compression was a little low ~90 on all cylinders, figured OK there since boat has not ran into long time. I have good spark at all cylinders and I'm getting fuel through the carb into the intake and down to plugs. Last time I checked all you needed for an engine to run was fuel, spark, and air(compression). I'm starting to become frustrated with this and any help would be greatly appreciated

I would guess weak spark. Maybe get an inline tester to verify .

Battery the right size with enough cranking amps? (group 65)
Choke closing and set properly?

Here is what I'd check-
being an 87 it should be a right hand rotation engine. When you try to start it are the pulley's turning counter clockwise when viewed looking at the front of the engine? If not,new starter could be wrong.If that checks out I'd check the firing order for a reverse rotation 351

New starter was installed because old one was locked up, it is correct starter, it was ordered from nautique parts. Pulleys are rotating counterclockwise as they should and firing order as wired on cap and labeled on nameplate of motor 18456273. It is a brand new battery with 850cca and the ballast resistor is dropping the voltage as it should. I can't remember the exact ohms of resistor and what voltage is coming off of it as its been a while since I checked those. The choke on the carb is operating as it should but I have not adjusted anything on carb yet, it does shoot fuel in while cranking if throttle is pumped as it should, I know some slight adjustments will be needed on carb once I can get it running.

The wires on the cap are wired counterclockwise. When I set TDC the rotor is pointing at roughly 1 o'clock which from what I've researched is where number 1 is located

Wakerider81 wrote: The wires on the cap are wired counterclockwise. When I set TDC the rotor is pointing at roughly 1 o'clock which from what I've researched is where number 1 is located

I feel you have misunderstood the concept. The distributor orientation can be anywhere within 360 degrees consequently the plug wires can start anywhere within 360 degrees. There is no orientation to a clock. Get the #1 to TDC compression again, look at where the rotor is pointing and start with the #1 plug wire there. Where have you been researching?

Wakerider81 wrote: I have verified firing order and have had 2 other people verify that firing order is correct. Everyone seems to be stumped and says it should start up

Are they going by the 1 O'clock position as well?

How are you referenceing numbering the cylinders?    
If you perhaps have chevy on the brain, all they share is #1

What Duane, Pete and I are referencing is that once you get #1 to TDC then where ever the rotor is pointing.     (1-o'clock or 4-o'clock)   doesn't really matter as long as that is where the # 1 plug wire is placed and your firing order goes from there around the cap counter clockwise.

Do double check that the #1 TDC is at the compression and not the exhaust stroke.

Yes
Also to make sure your on the compression stroke the timing mark should be at zero
Then to get it even closer to TDC turning the motor over by hand you can use a Phillips head or wood dowel in the plug hole to find exact TDC. (Usually helps to have an extra person for this)
NOW MAKE SURE WHERE EVER THE ROTOR IS POINTING THATS WHERE YOU PUT THE #1 PLUG WIRE. and continue your firing order CC from there.

TRBenj wrote: . Just make sure you confirm compression stroke. It's easy to misjudge if you're not rotating the engine over by hand.

That is what I was trying to emphasize

One other question, with compression being low what kind of oil could I spray in spark plug holes to help seal up the cylinders? Could them not being fully sealed since it sat for 14yrs have much to do with it not starting?

gun-driver wrote: TRBenj wrote: . Just make sure you confirm compression stroke. It's easy to misjudge if you're not rotating the engine over by hand. That is what I was trying to emphasize

Understand... But I suggest KISS. A breaker bar, a 15/16" socket and a helper to hold their thumb over plug hole #1 is really what he needs. A piston stop won't tell him which stroke he's on any better than the balancer will. The last person I know that tried to get fancy and confirm TDC position ended up dropping something in the cylinder and had to pull the head off to get it out. I will not name names. KISS. :)