Mike, I'll echo Trevors question on that. When #1 is at TDC on a compression stroke, the valves on #4 will be rocking. That is, the intake valve will just be opening, and the exhaust valve will just be closing. At this point, the timing mark on the pulley should be lined up with the TDC pointer on the timing cover. Now is a good time to pull the distributor cap, and verify that the rotor is pointing at the #1 spark plug wire. Remember, it rotates counter-clockwise.
The throttle cable is held in place by the tension put on it by the throttle return springs, and that's it.
As for the carbs, it sounds like the needles are stuck shut. Pull the float covers off, and see if you can blow through them. If not, try squirting some carb cleaner in the fuel inlet, and see if that frees them up.
I doubt if you were dieseling, with the low compression a 1275 has. (Compared to a diesel, that is.)
Good luck,
Jeff