So, I managed to get the fuel system flushed out good, reassembled everything. Ran OK for a day or two then started to slow down and quit again. Seemed like the bug contamination problem you'all suggested, so I took the fuel system apart again, did through cleaning, added new fuel. Now it just plain won't start! It will crank fine and smoke a bit but as soon as I turn off the starter switch it puffs a few times and then quits.
Looks like timing issue, I think, but what I read here about adjusting just seems confusing as hell. Is there a simple step-by-step procedure I should follow?
Thanks!