Crank seal? When it does start, does it idle to fast? Causing a lean condition?if everything is good i would suspect a crankcase leak.
could be external (mating surface leaking)
could be internal.
between the 2 crancases.
hard to say
but as you stated you have good compresion ,fuel and spark.
the only thing you dont know for sure is crankcase compresion.
but i would defenatly double check everything else out before making this conclusion.
spraying some carbcleaner around the case half with the engine running, might help you find a leak.
Check the prop shaft bearing housing, if the housing is installed upside down it will block the exhaust on some of these engines. These engines had a very high failure rate of the drive shaft and gearcase, so it probley has gear case work.
Test the fuel pump, TD. Sounds like it isn't pumping enough fuel.
Could be failure to get strong enough pulses from the crankcase, air leak, etc.
Kill switch? Ignition switch? Kill switch wire? disconnect ignition switch and ignition wire & killswitch wire at the motor. connect your own kill wire jump to selinoid and fire it up. Oh sh-t I've had to much to drink.