I think it is your timing...You have spark and you have fuel. Spark and fuel at the wrong time though. Remove your left side upper engine cover, and also the lower cover where the points and condenser are. Put the bike in neutral and turn the motor with a wrench until the zero stamped on the timing chain sprocket is at 12:00 in line with the upper motor casing mark. Once that is aligned look at your marks by the points does the mark point directly at the letter "T"? If not you timing is off and needs to be set. Smithers has some nice pictures of the marks and alignments here...
http://www.fourwheelforum.com/showthread.php?t=108 I believe Spokes has some nice pictures with a laser level of the 12:00 and zero alignment somewhere as well, although the link provided shows them clearly enough. Keep us posted we'll get it ironed out.