Let me echo the other folks' welcome and thanks for your service.
You'll find many of us here are veterans.
I would remove the plugs and add some ATF or MMO to the
cylinders to soak the rings for a few days before trying to start it.
That will help free them up and lube the cylinder walls a bit.
Roll it over with the plugs out to blow that oil out before trying
to start it. Messy, but it does help.
While it is soaking I would take the distributor off (2 bolts, 1 wire)
and clean/gap the points. 15 thousandths on the front mount.
The distributor is different from most engines, it only goes in one
way. Timing is set on the bench. An I&T FO-4 manual will show
you how to do it. Forum member TOH sells a jig to make it easier.
If it needs new points, buy quality ones, not TSC. NAPA CS35
or Standard Ignition BlueStreak FD-6769X.
Pull the drain plug out of the bottom of the carb and drain it,
then turn the gas valve on two full turns (not more) and let
fuel flow through it for a couple minutes. You should get about
a pint of clean fuel.
It should run in a steady stream, although not real fast.
Catch it in a glass/clear plastic jar so you can check for dirt or
water. You might have to let the jar set a while for water to
separate in order to see it clearly.
If you don't have good fuel flow, there are three screens to be
cleaned: one in the carb inlet elbow, one in the sediment bowl
above the glass bowl and one on top of the sediment bowl assy
inside the gas tank. i would leave that one for a last resort.
Much more to add, but check out the [b:ca694d2192]
75 Tips[/b:ca694d2192] that Bruce(VA) posts.
They are great advice for new N owners.
Post back with question and let us know how it turns out!