That other screw is to adjust the choke cam lever, it should be turned out (unscrewed) untill only a couple of threads are showing, otherwise the choke will be jammed into one position perminantly. No matter how many times you pump that throttle or how high you rev the motor, the choke won't move if that screw is tight. Plus it wears out the cam steps with excessive pressure.
What the screw does; there is a stepped cam inside the choke, when the choke spring warms up it moves back. The choke flap in the carb will not move back with it untill the throttle is pressed.
This is because the throttle is connected by a cam lever to a small rod that catches on each step of the choke cam. When the throttle is depressed, the rod is lifted free of the cam, and the vacuum in the carb sucks the choke flap open untill it meets the heated spring.
This is how the revs are slowly reduced down each step of the cam as the engine warms. If the cam is too tight i.e. the screw is turned in too far, then the little rod will not move free of the cam, thus jamming it in place.
The distributor already should have a line across it to line up with the little arrow point on the housing that it bolts to. That's just a reference line, it does not indicate the "perfect setting" for your car. As long as the dissy is not turned all the way anti-clockwise (retarded) then it should start fine.
Make sure all the vac lines are connected and not leaking, if you're starting it with the airbox off then make sure you plug the end of the vac line that plugs into it.
Have you removed the anti-tamper cap from the mixture screw and adjusted the mixture at all? If so then you may have turned it in too far and made the mixture way too rich. The mixture is made rich to start with by the choke, so if you enrichen it further then you'll just be flooding the engine. If the cap is still in place and the mixture has not been touched then it's unlikely that this will be the case. Just thought it was worth mentioning because i don't know exactly what you've done with your car, or what you've tinkered with under the bonnet.