[Offroads4x4]

Sounds like a short if there is smoke. I'd check out the following.

Look over all your electric connections that lead to and away from your (Dizzy). Look at your coil and the coil wire to the Dizzy. Look for wires that may of been caught while R & R-ing the motor as well.

Recheck the firing order, cap (is the cap cracked?) and rotor. Check your valves for adjustment, You could have adjusted them 180 out (FSM valve adjustment). This is a good way you can check the timing at TDC with-out taking it all the way apart.

Other questions come to mind.
Are your fuel injectors hooked up right?
Is your knock sensor hooded up?
Is your MAF plugged in by the air filter?

Hope you get it running.

 

[Offroads4x4]

OK lets check some more basics.

You say it clicks when you try to start it. The solenoid should be good if its clicking, however it might be the Bendix drive on the starer.

Check your Battery terms, clean and hook back up.
Make sure your battery is fully charged.
Next check the small wire at the starter. This wire is prone to corrode.
Check the switch on the clutch pedal (neutral switch).
If that doesn't work pull the starter and have it checked at Autozone or Checker.....

It could be your engine is so tight from the rebuild that the old starter can't crank it over.

Just some thoughts.