I found this from back when Blue Coral had it.
There was a bit of alcohols and a surfactant in it. I think it was reformulated to get rid of these.
I use the straight metasilicate and it works just as well.
ps; there's no bleach nor has there ever been any in "Bleche Wite". another common misconception...

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Refer to section V, page 23-on of the service manual. May want to share with your mechanic.

Is it backing thru the carb, missing/not firing on all 8, or backfiring out the exhaust?
"Lifters" are more prone to stick than valves and valve stay open. They have a shorter guide and take the slapping abuse from the cam especially if not lashed correctly. Valves have springs to close them. The valve seal surface is prone to wear and heat damage and stem warpage but usually only if it's over revved or heated or hit by the piston but that can't happen on an L. The valves are not in/above the combustion chamber per se. A large build up of carbon on the exhaust valve stem can cause aimilar problems, and why I don't like to add oily things to the gas. The "coking reaction" is well known in petrochemical industry. Correcting these are what used to call for a "valve job."
When was last oil change?
How long since last start? More than a week or cold climate?
Do you rev it up when you start cold or allow to warm up?
All these put the valve train at stress. The lack of oil at start causes most engine wear damage.

Bleche White is basically sodium metasilicate solution (an inorganic soap) with some bluing. Blue makes yellow look white and was used in washing clothes and still is.
You can buy uncolored concentrate under many names. It typically comes in 50% concentrate in drums, I believe, so you'd have to clean alot of white walls. Check with a local chemical supply house that sells smaller amounts. I had bought some from a guy going door to door but it was pricey. Have to cut 50% to about 5% with water for WW. ~10:1 Don't mix it too much it'll foam up.
BW got pricey after Black Magic bought them out and was hard to find for a while. To my knowledge they stopped selling in the gallon refills, at least around here. Have to pay for the buy out some way through the customers...

It has been modified/parts missing or swapped but I think the basic vehicle is an "eight station sedan".
The manual didn't give a model number for them but there should be one. I did not search exhaustively.
The bonnet ornament is possibly wrong, should be "wing" type but maybe custom was an option. I base this on the front bumper and the tailight cutout. If you look close bumper's open in the middle and the ends are painted and tailight holes are rectangular, typical of the 22 series. If it was a "leftover" it maybe titled as a 1949. 22-9
It would have come from factory with a 130 HP straight 8.

Assuming the fuel presence is from the pump overwhelming the float, just rebuilding won't necessarily solve the pressure issue. It may need to be regulated/return line. The float seat just may not have shut off due to dirt, residue, dry elastomer, etc.
Make sure the cylinders/manifolds are dry. No residual oil or gas in the combustion chamber.
If the carb is not filled, only need about 20cc, <2 tbsp of liquid gas, down the carb throat to start. Give it a half a minute to spread out and vaporize before you crank it. I use a 60cc syringe, and they usually fire on the first and start/run on the second or third dose if they're going to start. That's enough fuel to spin it up to get the fuel to the carb with a mechanical pump. If it tries to start, repeat once and if it's much more than that it won't run as is.
Gas like most hydrocarbons only burns in a narrow range in air. Once it's (super rich) over the UFL it won't ignite at all. You have to air it out at that point. You also have to limit the fuel so you don't ignite it too rich and carbon off the spark plugs. That's one reason they spark outside when clean and dry but don't after you put them in the cylinders. Light oil will also burn/soot.
Turn it by hand. It should not take alot of effort until you reach compression stroke. If not, somethings stuck.
Crank it with starter first for 30 seconds or so with no fuel and coil wire off to make sure it's turning fast enough and get the oil pressure up before introducing fuel. That will tell if you have battery / cable / starter / oil pressure or other binding issues. Once all the electrical signals are good, motor turns freely, it should fire easily. It may not run well but it should start even if it's got issues.

Looks to me the original "long" battery tray is below the smaller one in the photo. There's ample airflow so just make a sheet metal or rubber "patch" as the opening has a detent where it installs. Clip on, if you don't want holes.

I'm assuming it turns by hand and the pistons are going up and down.
If it's cranking fast enough to give good spark on the outside and you dump a little gas down the intake and it doesn't try to fire, you're not getting spark (or air) in the cylinders. Plugs got wet, grounding issue, etc. or timing is way off.
Your list didn't say new plugs, but that's a good cheap place to start and wires too.
Check they're no stoppage in the intake/exhaust. I had mice plug off the air cleaner on my motorhome one winter. Had it towed in when it wouldn't start got laughed at by the mechanics. Vermin or rust partly plugged the exhaust pipe on this Packard and we blew out the muffler when we got it fired. Take an air hose and blow everything out.
Sounds like what I call old-guy-itis, (even though I'm one) he's screwed around with it, couldn't get it going, so he quit on it and eventually sold it - like my Cad.
Sounds like carb rebuild time also if no squirt. But it should start on the bottle just die out when the gas goes, if carb doesn't take over. The accel plunger seal is leather and dries out.
Take your time you'll find many more faults going forward.
ps:I was reading my Cad V8 diag manual for another problem and there's a test where you run it on two cylinders at a time, so they'll "run" with just two cylinders firing even unevenly, maybe less.

I know Ford's had dash starter switches at least thru the '54 model, maybe later. Of course, they're chic again now days. Like anything else, make it cheaper by combining functions with the key and call it "modern".

Alot depends on how many miles are on it what good pressure would be. If cylinders are all pretty much the same, I doubt valves are stuck. Common mythology. You'll get really low values, like zero, if one's stuck open.
Valves may not be adjusted and not closing or opening fully giving lower pressure but it's difficult to get any meaningful pressure readings on cold rings even with the wet test. They contract and by-pass. Plus you need oil circulating to get the cylinder and head to pressure seal.
May want to start on a fuel cell if the tanks been sitting.
Old gas is trouble for the carb and pump.
If it's got the silly carb starter, by-pass it for now. Check all the wiring, etc. I don't like to even try to fire or put juice to one until all that's done first, so don't get to in a hurry.
Clean the oil pan or check for clean oil too. No sense circulating sludge if it fires. Replace all the fluids.
Concentrate on getting the spark good and the fuel mixture/carb doing it's job before you worry about the compression. Carb may need rebuilt, if it's dried out and new gas is in it. They'll fire if all that's right even if there's a few cylinders out, zero compression.