Thanks for your input John.
Had my daily workout on the kickstart with new plugs, leads and unsuppressed plug caps fitted. Nice fat blue sparks in the open but only the very occasional, half hearted splutter from the engine when trying to start with them fitted.
Waiting to get an in-situ spark tester as identified by Ron and meanwhile have removed my diagram from previous post as I don't think it represented what Muskrat was trying to tell me. However, on the face of it, the maggy seems fine. I will try spraying a bit of petrol down the hole though, as you suggest. Have not had a push yet (can't face the indignity) but it may come to that yet.
Meanwhile, carb is off yet again for yet another inspection.
Also tested compression again. It now got up to an unbelievable 180ish on both using my crappy little push on tester which if we believe the result, seems very healthy?
So. in summary, I seem to have fat blue spark, 3/8 BTDC timing and great compression. Air screw is out 1.5 turns (and tried up to a turn either way) and throttle stop is 1/16th open (also tried a turn either way where 1 turn = about 1/332 inch). So why won't the bloody thing start?