I know you've checked and rechecked for spark, wiring, and fuel.
If it were me l'd start over from the beginning with the basics. Take it to TDC and line up your timing mark on the pulley. Pull the cap and verify that the rotor is in the 1 oclock position. If so, pull the mag and recheck the points and gap. You may want to replace the points and condensor (easiest and cheapest place to start). Verify rotor alignment to the pinion gear. Reinstall the mag and static time it according to manual specks. Hold the coil wire about a 1/4" off the block to check for a strong "bluish" spark. After going through those steps, if you still get no "cough" or fire, move to fuel.
Check that you have flow from the tank to the bowl (l had a dead bug in mine once that restricted flow). Disconnect the fuel line from the carb, again verify you have good flow through the line. Check the carb fuel intake for clog. Reattach the fuel line. Pull the plug at the bottom of the carb to check flow into the carb bowl.
After going through all of that step by step and it still doesn't "pop" then l'm as stumped as you and everyone else.
I say all this because years ago because l've been where you are with my '48. I once had it 180° out of time, and most recently had a bad pinion gear and rotor (both missing one tooth) that moved it just enough where l was getting spark, but at the wrong time. If l hadn't slowed down and gone step by step, l'd probably still be pulling my hair out.
Good luck
Hutch