First time start - no go

How can you have good compression when the timing chain is 40 degrees off? Bent valves or pushrods?
Certainly a good question.... Since it's a stock LA360, then pistons are around .100-110" in the hole, and with a dish. Cam spec is not clear but being a Purple, probably not a high lift cam anyway. Being advanced could/would actually increase the cranking compression.

40* is just under 3 teeth.... so maybe the crank key was set straight up when the chain was installed. That key sets about 3 teeth off of vertical when things are right.

Good to find a solid reason!