Just to be clear, the awful banging went away say a couple days ago and I can't explain why. Maybe it had to do with carburetor cleaner. It is just very confusing and the symptoms change seemingly on a daily basis and I'm trying to figure all that out
There's a whole lot of jumping around and grasping it straws here throughout the thread.
A good diagnostic procedure is almost more important than knowing how to actually do the work to fix one. Lol
I think I read through all the highlights of what's been done but it all boils down to you have spark and the engine is spinning and when you give it an external fuel source it does not run so therefore it is not mechanically sound to run.
That's what I call it and every time an engine comes my way that won't start a run, the fastest way to diagnose it is to give an external fuel source and see if it runs or not for a couple of seconds.
In your case we know it's not mechanically sound at this time to run so the next thing would be spark which it seems you have ruled out and you have spark.
The next thing, and all too common on these Brigs single piston ohv engines would be valvetrain or head issues.
I just lump all this into the same category including camshaft problems.
You don't need compression testers or leak down testers etc..
All you have to do is take the spark plug out, and with a comments about the threads stripping out and it blowing out the spark plug, either a plug has been cross threaded and forced in or it's been over tightened many times.
Please don't have to be that type. In fact with a brand new plug once you tighten it and the gasket touches, one half turn is plenty.
I have had engines for the spark plug has been out literally hundreds of times and the threads are still fine so be careful about the installation and how tight you go.
All you do is take the plug out then take the tip of your finger and stick it into the tip of the hole.
Crank the engine over and it should go blow blow blow blow blow at a regular pace and blow your finger out every time.
It should never have a pause and then a double blow and it should never try to suck your finger back in the hole.
This is the first basic procedure and if it blows you'll figure out where you really can't hold the pressure in, it has enough compression to run.
If it still isn't running, which we assume it would not be but this test looks good, you have to consider some sort of timing issue which could be camshaft valve timing or it could be the flywheel position timing too with the key.
Seems you've checked the flywheel key and it looked fine.
Busy just have lousy camshafts. Mostly they have a lousy ACR on the camshaft but they can also have problems with the lobes of the camshaft ESPECIALLY the aftermarket ones..
I have one laying around here somewhere that was only in a mower for 3 months it was only used for about 8 or 9 hours total that you could take at least one of the lobes on the camshaft and spin it around and around on the shaft. It's got a little clickiness as it goes past each little spline but of course they're stripped off.
This is beyond pathetic when we're talking about a situation where the valve spring pressure is barely in pounds with almost no pressure and it shouldn't be hard for the lobe to stay exactly where it's supposed to be but this happens because people make junk and poorly design items.
It's really hard to tell by looking if the timing from the camshaft opening the valves is correct unless you have another engine very similar to it to sit side by side and watch the valves move because these engines are not timed like a car or like you would expect.
They have such low compression ratio and in order to make them able to spit over even with the acr, the intake valve is open far longer than you would expect after the piston gets to bottom dead center suck again in the air.
On most types of similar engines with valves like this, you would find that the valve closes when the Piston gets to the bottom so all of it's upward travel can result in compression but these small air-cooled lawn mower engines don't do that.
The piston starts it's upward travel and moves a whole lot in my opinion and it's sometimes over halfway up before that valve actually closes.
I'm not just talking about the ACR either which in this case is on the intake valve but even other engines where are the exhaust has been used for the ACR, it's just amazing how inefficiently they are designed but as I always say, they are low performance little turds.
If your engine will blow your finger out of the spark plug hole with a nice deal of force and your vows are set even somewhat close then I suspect you have a camshaft issue.
Make sure you are setting the valves the correct way as some people simply refuse to do it basically the Briggs & Stratton recommended way and insist on applying previous experience or car style setting to it.
Make absolutely certain you are looking at the proper valve and thinking about it the right way because the intake valve is not on top. It is counterintuitive. The exhaust valve is on top and the intake is on the bottom
Also, make sure you're actually on top dead center of the compression stroke and not top of the exhaust stroke.
Then go that half inch past top dead center which in effect you can go 3 in past if you want because nothing happens until you get all the way to the bottom and then the exhaust valve starts to open but you have to make sure you go at least that half inch down so you'll be away from the ACR ramp.
Then you set them both and then you need to turn it over a few times and put it back at the proper position again to double check them because they almost always move a little bit and actually they always almost move when you're tighten up the locking part of the adjusting nut.
No adjustment in the world though is going to solve your problem if the camshaft lobes have jumped.