When I returned from dropping off my friend, I noticed that the engine compartment was wet. /the top sat out roughly 1/2" and acid was still boiling out. Being I will be gone until Friday, I'm going to start from scratch again on Friday
I'm guessing your ignition was left on while you went and dropped off your friend? If it was and the points were closed your coil is sitting their sparking away and building up heat causing the oil in the coil to boil and then to blow the top off. If I were you I'd replace the points and condensor along with the coil as these maybe damaged now too.
To set timing for an initial start this is what I do:
1)Get #1 to TDC by removing the spark plug. Put your finger over the hole and turn the engine over untill you feel the burst of air.
2)Take a look at the timing marks on the harmonic balencer and see if they are pretty close to aligning. Turn the motor by hand until the pointer is pointing to 10 BTDC. You can also confirm this by pulling the valve cover and seeing that both valves on #1 are closed.
3)Mark on the side of the distributor cap where #1 is.
4)Remove cap and adjust distributor so that rotor is pointing directly at the mark you made on the side of the cap.
5) Reinstall cap.
This will at least get it to fire when it is supposed to but some fine tuning will be needed.
Also, I fill the bowl of the carb with gas so that i don't have to worry about the pump catching its prime. I ussually fill through the vent tube/opening.
Good Luck,
Rex