I'm assuming the dudes you bought it from had the electronics checked out, made sure the ignition system (plugs, rotor cap) and such were OK? Also, as mentioned, make sure the wires are correctly connected to the regulator (Getting + on the - terminal weakens the spark on many rigs.)
If they haven't checked those out, it may be one of them. The electronics will enrichen the fuel mix & allow it to start. If not working properly, it will be hard starting.
(I was betting on that fuel pump, originally.)
...just a thought...