Assuming your fuel is fresh (does not lack volatile elements) and you have a good spark at the plug wire, then either the spark plug is not jumping the gap (plugs can sometimes fire fine outside the cylinder but discharge through the deposits on the center electrodes insulator when in the cylinder), the spark is occurring at the wrong time, or the engine lacks compression.
I agree with Jim I hate to use starting fluid to try to start an engine unless its a really cold day where stale gas and fuel vaporization is the likely culprit.
I would pull the plug, pull the cord with the throttle wide open a few times then let the saw sit in the sun for a couple of hours, then install a new plug and add a few drops of fresh fuel/oil mix to the carb and try again....if it starts and dies then you have a carb issue or a leak somewhere that is preventing an adequate vacuum at the carb to induce fuel flow and atomization/vaporization.
To check timing since its a points/condenser setup, you can do it the old school way.....if you want and you do not have a pacemaker or other heart/health issues.
Pull plug, hold a paperclip in the plug wire with one hand and slowly rotate the engine with the other..when you feel a shock check the position of the piston it should be near the top of the cylinder...this means the timing should be close enough for the engine to start.