You should be able to check the spark quite easily. Set the correct clearance between the coil and the flywheel, temporarily disconnect the kill wire from the coil, remove the spark plug, clamp a known good spark plug to the cylinder head by its metal body, attach plug lead to the clamped spark plug, and spin motor. If you see a steady series of blue sparks across the plug gap, the ignition system is working (but could still have the wrong timing if the flywheel key is sheared or missing).
B&S do not recommend measuring compression pressure because of the effects of their EzySpin compression reduction system. You should turn the motor backwards until you reach compression, then flip the crankshaft backwards against compression and see if it bounces off. If it bounces decently, compression is satisfactory. You can learn more about the engine's compression by putting one spoonful of engine oil into the cylinder through the spark plug hole and repeating your compression test with the pressure gauge. If the pressure is substantially higher than it was without the oil, your piston rings are worn out.
