At this point, step back and sniff your oil for any petrol smell. Just being safe.
If you can get the bike warm, it's worth testing compression. Once without and then one with oil in the cylinder. Again, it must be WARM! Assuming you get good numbers, proceed with the steps below.
In this order without skipping anything:
1. Set cam chain tension (90º ATDC on compression stroke of left cylinder)
2. Thoroughly check valve clearance. Check it, set it, then check it again.
3. Clean all of the electrical contacts for the ignition system. Breaker-points, points to condensers, condensers to coils, harness to coils, green-battery-ground to frame, the other battery leads, etc. Do this with the battery disconnected! Remove it to be safe.
4. Check the resistance of the spark plug leads and boots.
5. Set points gap and ignition timing with timing strobe, continuity light, or continuity setting on a multi-meter. 1-2º retarded from factory line works best for most people. Don't advance it too much! Then check the gap again.
6. Check your spark. Unplug both spark boots and leave the plugs in. Get a spare plug and put it in one spark boot. Hold it so that it grounds out to the engine and see what sort of spark you get as you try to start it. Repeat for the other side. Don't do this without plugs in the spark plug holes!
7. Mess with the carbs. Changing float height, idle, main jet, intake passages and of course mixture will all have an effect.
Tell us your results. Also, what sort of air-filter are you using?