Welcome to MLMF, antlerdancer!
After you replaced the shear key...did it run, or try and run? Does it backfire through the carburetor?
If you have a dial indicator you might try and see if the flywheel has run-out. You can do this with a cordless (or corded) hand drill and socket to fit the flywheel bolt. If the dial indicator has more that .015"-.020"- then Austen may be correct and your friend might have bent the crankshaft enough to permanently disturb the timing...
After you replaced the shear key...did it run, or try and run? Does it backfire through the carburetor?
If you have a dial indicator you might try and see if the flywheel has run-out. You can do this with a cordless (or corded) hand drill and socket to fit the flywheel bolt. If the dial indicator has more that .015"-.020"- then Austen may be correct and your friend might have bent the crankshaft enough to permanently disturb the timing...