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The Z129 doesn't have a timing chain. It has a timing gear on the crank that turns the cam. , It might be possible to skip if the gear is walking off the shaft or something, but not likely. I think Mark hit on it, if your rotor ain't pointing to #1 plug terminal at the top of the #1 piston compression stroke, lift the distributor out, rotate it, and re-insert so that it does line-up on the # 1 terminal. It's just a gear drive, not a slot like some engines, the distributor gear will mesh-up with the cam in any position. Keep in mind that you fine tune the distributor alignment (& point opening) by loosening the hold-down clamp & rotating the distributor left or right as needed to dial-in 7 degrees BTC on the flywheel. That may be all you need to do on yours. You can eyeball the points to see when they start to open, but I think a more precise way is to power the coil/distributor from your battery with the dist. cap on, & a plug or paperclip installed on # 1 plug wire. With engine turned to 7 degrees BTC, rotate distributor left/right until you get spark, then tighten down the distributor clamp. Your timed & that should be sufficient to get you started so you can fine-tune with a timing light.
This may be a re-hash of old advise, but make sure you have a good blue spark on your plugs, not a weak orange/yellow spark, or your TO may not start. If your sure on your timing & quality of spark, yet still won't run. The carb is probably the next likely culprit. George
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