318 Won't Start? And I tested as much as I could I think?

Cold engine needs a rich mixture. Hence the choke should be shut or nearly shut.
Holding the throttle wide open means its impossible for idle system to flow. The idle system works on manifold vacuum, as illustrated in in this link.

Backfire up the carb is because the mixture in the cylinder ignited before the intake valve shut. If anything, it may be too far advanced.
Thank you
I'm going to recheck the timing again, it should be able to at least fire up so it can be adjusted. I mean the rotor seemed to be well on a post, but I'll retard it a bit first. As for manifold vacuum, I get how that effect the idle but not that should prevent it for a quick fire up.
I am also going to do another fuel test,
I am wondering (hypothetically) if there was too way to much water in the gas, but octane was added before testing the gas for water. And this created a strong smell and the ability to light fire in a spoon. Would it be possible for starting fluid to be useless as its sprayed in the carb due to the excessive water?