Need Help !!!

[69 Short Fleet]

My engine won't fire up!!!!!!! I'm at compression TDC, dizzy is pionting at #1,, Cyl Plug wires are correct, everything is new, getting spark, new fuel going to carb, coil is hooked up correctly..... WTF!!!!! For some reason the white wire (with the special rope jacket, that goes to the pos side on coil) seems to be getting hot to the touch. It fired up yesterday and idled for a few secs. and stoped on the 3rd try it backfired... looking at it further the dist was off by one tooth so I moved it to where it should be. The last time my truck ran was 5 years ago and it ran like a pos driving it home from the bodyshop, I NEED HELP PLEASE!