You're right about the engine size being wrong, the previous owner replaced it with the smaller engine, I'm not sure why. I'm searching for a good donor 1275 right now to no avail. But the 1098 runs now so I'll have some fun with that for a while.
Turns out the problem was #1 old gas, and #2 clogged pathways on the progressive and primary circuits. I took all the jets out and blew carb cleaner through them, drained the gas tank and added some new gas, and whiz bang it fired up and ran. I need to get my hands on a dwell meter and set up the timing correctly now and I should be in business. Oh and get the correct idle and acceleration jets for the carb. Does anyone have recommendations on jet sizes for that carb? Sounds like a trial and error deal, but I thought I'd ask what others might be running with success. This might sound strange, but I really like that weber! After you read up on it, you find out that it's actually very simple little machine.
Thanks for all the help everyone!