The timinmg is preset by the permanent keyed slot built into the inside of the flywheel where it mates with the crankshaft. If the key was broken off, you would get No spark because of the nature of the magneto ignition. Your compression is actually pretty low for a 2 stroke. It should run higher like around 90+. Try this. With plug removed, cover plug hole with thumb and give the pull start a real strong pull. It should push your thumb off of the hole. If it doesn't the compression is too low for the engine to run. Scored piston walls, or cylinder walls could be the problem. Again 60PSI is really low. I would remove the jug and check for piston scoring and cylinder scoring. The engine can be easily rebuilt (but not real cost effective).
Reverse blow carb. Cleaner through the filter blow in same direction with compressed air and should be good for many more years that is if you clean tank completely with carb. Cleaner and compressed air and check all fuel sources. If fuel is a bit dirty place paper napkin or rag in funnel and use as filter when adding fuel.
The 6.5 powerful motor and powerdrive transmission allows the maximum performance. It has a 13 inches cut path that cuts the toughest weed and gives your lawn the perfect tidiness.
may need a tune up--check air filter change if necessary,check and clean he exhaust screen.plug if fouled --fuel mixture --carb may need cleaning or rebuilding
Use a hooked/bent piece of wire or similar to get fuel line and filter out of petrol tank filler hole
Remove fuel filter from end of fuel line
Remove air filter housing
Remove choke control/ plate from carburettor
Ease old fuel line from carb. inlet. And clean inlet tube if necessary
Gently but firmly pull old fuel line through hole in base of tank
Fitting new fuel line
the new fuel line has too big a diameter to fit through the hole in the base of the fuel tank.
To get round this I heated the end of the tube with a lit match (but a blow torch or gas ring would do) until it was soft enough to fashion into a point- take great care the plastic obviously gets very hot and could burn ***** flesh. The tapered end you form should be at least 1cm long. Allow to cool
Trim off the end of the tapered point if necessary
My next problem was to get the tapered end through the tiny hole inside the fuel tank. To help with this I took the innards out of a standard biro then put the fuel line through the empty tube with the tapered end projecting from where the ballpoint used to be. Push the tapered end through the hole inside the tank.(a torch was useful here to help see inside the tank)
Pull the fuel line through from below the tank until you have enough to push on to the fuel inlet on the carb.
Cut the tapered end off the tube and push onto the fuel inlet .
Cut the other end of the tube so there is enough length to reach all parts of the fuel tank.
Something could be keeping it from getting the right mix of air and gas. It could be a crack in one of the fuel lines or primer bulb. Maybe the carb needs rebuilt. I made some videos on how to do all that. I got all my parts form Home Depot, except the carb rebuild kit I got from Amazon. Hope this helps.