Bike will not start !!!spark plug appears to be working carb cleaned piston and rings been replaced but still low compression and a none starter

That does seem low, but it's a 2cycle.
It hasn't been run hot or w/o proper gas/oil mix has it ?
Will it fire with a squirt of starter fluid ?
If you squirt some oil into the spark plug hole, does the compression go up very much ?
If it has spark and won't fire w/starter fluid sprayed in thru the carb, it's most likely a ring/piston/cylinder problem.
If it fires with starter fluid, it's fuel not getting into the cylinder.

If it was stored with gas in the tank for longer than a month or two, the gas could be stale... If so, dump it all out and pour in fresh mix and give it a try...several times, not just once. If that's not the case, pull the plug after trying to start it and see if it is wet with gas. If so, gas is passing the carb and into the cylinder. Next hold the plug threads against the block of the saw and pull the starter rope (with it in the 'on' position). If it sparks, it should be a bright blue not weak....Replace the plug and try it again. If no spark, make sure the switch isn't grounded killing the magneto (coil) output. If not grounded, consider changing the coil as it is possibly defective. Ask for the correct feeler guage for the coil replacement as there is a definite clearance that must be maintained. If you have a feeler guage set, just ask for the clearance setting.

hi
put a compression tester you will find low compression /
due to seized piston/piston rings/

If the bike has been laid up for a while without the carb's being drained, they lacquer up and need sonic cleaning to get them 100 per cent. The ringing sound from sounds like broken piston rings, the low compression reading on 4 confirm this, Sorry, it looks like major surgery required.

First thing would be to cheak the compression,has the bike been stood for a long time, if so the piston rings can become seized into the pistons and although it my appear to run on starter fluid sprayed into the carbs its not really running just firing.
If the compression is low then you will need to remove the head and barrel the determine why there is no compression.
I had the same problem on a gsx550 turned out to be frozen ring, removed carefully cleaned well and replaced and it ran ok.

compression under 110 get's is questionable.
check your crank bearings and seal.
also clean carb and check float level

with 2 stroke engines there is 3 things that you need petrol air and spark if you have them the bike will run you say you have cleaned the carb have you checked the air box the filter could be blocked restricting the amount of air in also have you checked the spark plug remove it and see if you get a spark place the plug onto the engine so thats its touching some metal and try and strart the bike you should get a nice fat spark if you dont then replace the plug if you do have a look at it is it oily and black if so the the air screw on the carb needs turning 1/2 a turn inwards if its white then 1/2 turn out if it looks ok the check for compression place your finger over the hole in the engine where the plug came out and try and start the bike your finger should be pulled gently into the hole if not then the piston ring has either cracked or snapped and will need replacing
if all this is ok spray some easy start into the air box and kick the bke over it should start if it does then a new carb might be needed

hope this helps

John

A common cause is worn piston rings. This can be checked doing a compression test.
Call your Honda shop for what the cylinder compression reading should be for your bike.
Place a compression test gauge in each cylinder spark plug hole one at a time and crank over the engine (if you have a kick starter use it with the key off. If it is electric start only, pull the other spark plug wires when you crank it so the engine does not try to start. Write down the reading from each cylinder. The readings should all be close to the same. If one or two are allot lower than the highest reading, the low reading cylinder(s) probably have worn piston rings. If all readings are much lower than the spec from your Honda shop, it is possible that all cylinders need new piston rings.
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Compression is too low!

Replace the piston rings.

Also check continuity from engine to frame till high-tension coil...
Check if breaker points aren't dirty ( clean out with fine sandpaper )
Check breakerpoint settings

Guess I should post my answer as a solution so you can rate the solution. Clarifications can't be rated. Any results yet? The timing should be okay. Sitting for two years will not change it. Pull all the plugs and give a shot of WD40 into each cylinder while pushing the starter button. This will get some lubrication to the cylinder walls and piston rings. It will also help the rings to seal up. Now do the compression check. The readings should be within 10 psi of the top reading. If using aerostart, spray it into the air cleaner not the carbs. The air cleaner will greatly lessen the chances of a fire caused by an engine backfire. Always have a fire extinguisher on hand when messing with the carbs.

Bear in mind that some of the rings may be stuck in the piston grooves and will not be free to spring outward to seal against the cylinder wall. The WD40 may help here also. The worst case is that you will need to pull the head and cylinder to physically free the rings. Your pike is now 19 years old and the valves have probably never been worked on. Now would be the time to re-seat the valves. Depending on the condition of the cylinder, piston and rings, you may want to re-bore the cylinder and mount new piston and rings. At least run a cylinder hone through each cylinder.

I was going to just post this as a "clarification" but have sort of gotten into it now. All I ask is a "Helpfull" rating The "Thanks for trying" rating is a real bummer for a guy just trying to help. Get back to me.
Not sure what manual you have but compression is never checked at anything above idle. Crank and idle speed compression should be 140 to 160 psi.