Internal combustion engines need three things to work:
1) compression
2) ignition
3) fuel
If you have those three things it will work. If you have them in the correct proportions and at the right time, it will work just fine.
Lack of proper compression can and will stop a motor from working, but when it does, your spark plugs will generally come out wet because with really low compression, the fuel delivered to the cylinder tends to puddle after only a few revolutions, and the engine floods, which leads to cylinder wash down, which tends to increase the low compression problem.
Without casting stones, verify your valve setting procedure to be certain you are establishing gap at TDC on the power stroke, not TDC on the exhaust stroke. Also verify your timing procedure. If you are comfortable that you are doing these parts right, then try this:
Pull all the plugs, pull the coil wire, then crank and test for compression on all cylinders. Then squirt a bit of heavy oil (whatever you have but Lucas Oil Stabilizer works great for this) into each cylinder and test again. If compression jumps up, you have dead rings or too much ring gap, and no amount of over the counter additives will bring it back from the grave. If heavy oil in the cylinder does not change compression, it is more likely the valves warped or mis-adjusted, worn cam lobes, a displaced valve seat, cracked head, or some other issue that is causing the valves or heads not to hold compression.
You can also do a leak test if you have compressed air. I make up a screw in fitting for the spark plug, either from the compression test kit or an old spark plug, then run each cylinder to exactly TDC on the power stroke, then add air to the cylinder. You will be able to hear the leak from either intake or exhaust or engine breather, and you will have a good part of your answer.