The valve clearance is in the manual, something like tighten until no clearance and back off a half turn.
I would double triple check that you have the mag firing on #1 and then #2 correctly. The old mags Splitdorf and Aero fire for two clicks then provide no spark for two clicks. #1....#2....nothing....nothing.....#1.....#2.
If you have it firing the #2 click on #1 cylinder and then nothing for #2 it would be hard to make it run. I did it once but caught myself before I got too far. Also, be sure you have the mag timing lever in the right spot, I BELIEVE it should be all the way back when setting start timing. My memory is fuzzy, been a while since I did the timing on the '28.
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