After installing points did you set motor so points are at top dead center? Set points gap with feeler to correct opening? Loosen/tighten set screw with screwdriver.
And did you reinstall woodruff key in correctly? Something about install one way, timing off, install correctly, timing will work, but still have to reset timing ignition gap again afterwards.
Did you check all wires for abraded insulator coverings which short out causing no ignition? And did you clean corrosion off of connector ends before reinstalling?
When checking for spark, be sure to...
tiller handle models
turn handle to start/run/idle position
remove plugs from motor
check/set correct gap on spark plugs
do not put plugs back into where they live/work, but do...
insert plugs into spark plug wires
lay plugs on bare metal to complete electrical circut...plug grounded
on plug hole or
on bare metal of bolt or motor
have someone pull starter rope
while you shield spark plug from light to see spark
you may see/hear spark
on electric start models
have someone turn ignition key to spin motor
you have grounded spark plugs
same procedure as above
Once you get spark
to test motor on dry land, attach a thingy you can buy from boat shop which covers water intake, attaches to water hose. With unit attached and water on, you may attempt starting motor.
Or go the more timely route and trailer boat to lake or suitable body of water and tied down at a marina or anchored in water deep enough for prop not to hit bottom, attempt motor start.
Kinda leary about the low compression readings you got, but glad the numbers are within 10 pounds psi difference. Was always told to expect poor engine performance at 110 psi or less. Good engine performance and guaranteed starts at 115 psi or higher. Getting engine gas/oil mix into cylinders should raise compression.
If you get spark, set timming correctly and all, but poor engine performance, may be due to low compression.