Thanks, Mike. I was wrong about the key; it is separate. But it in good shape and is lined up correctly in the flywheel slot.
Regarding your thought on delivering fuel, that's what I thought might be the problem and the reason I joined this thread on reed valves. I thought maybe the reed wasn't opening. But as I said earlier, I was able to push it open with light pressure. Plus, when I put a little fuel directly into the carb bore to prime it, the fuel sits in the carb until I pull the cord lightly and then it disappears. I assume that the pulling action is enough to open the reed sufficiently and cause the fuel to travel into the cylinder ... as it should. So, fuel seems to be flowing ok, it has spark, exhaust is clear ... but no go. Maybe it is a compression issue even though the piston looks ok and I get decent resistance when pulling the starter rope. I've had this happen only once before where a backpack seemed to have starter rope resistance but I later discovered a scored piston and cylinder.
Regarding your thought on delivering fuel, that's what I thought might be the problem and the reason I joined this thread on reed valves. I thought maybe the reed wasn't opening. But as I said earlier, I was able to push it open with light pressure. Plus, when I put a little fuel directly into the carb bore to prime it, the fuel sits in the carb until I pull the cord lightly and then it disappears. I assume that the pulling action is enough to open the reed sufficiently and cause the fuel to travel into the cylinder ... as it should. So, fuel seems to be flowing ok, it has spark, exhaust is clear ... but no go. Maybe it is a compression issue even though the piston looks ok and I get decent resistance when pulling the starter rope. I've had this happen only once before where a backpack seemed to have starter rope resistance but I later discovered a scored piston and cylinder.