What is wrong with a Briggs and Stratton that cranks but won't start? ?

A Briggs and Stratton engine model Family 7BSXS.1901VH 277307. My wife claims that I had drained the fuel prior to storing it in fall of 2007. In 2008 it probably wasn't used at all. In Fall of 2008 an attempt was made to start it and it ran then smoked, stalled and would not start again. It won't start now but the engine cranks with the start key, although not with the pull-cord. I recently removed the carburetor and cleaned it with carburetor cleaner thinking that there may be shellac build-up. If you suspect the carburetor, what did I miss while trying to clean it? Otherwise, what else would you suspect? Also, do these engines have points and condensers?

Thank You.