Did you check the resistance of the plug caps? They could be way out of spec. Also, check the connections in that supply voltage to the coils. Look for corrosion or loose bullet connectors. A loss of just one volt on the primary side of the coil can mean a loss on the order of around 1,000 Volts to the plugs.
Also, you say the plugs are wet with fuel. You mean just damp or dripping wet? Check the float heights. When the air passes through the carburetor, it goes through a narrowed section called a venturi. The velocity of the air increases through this reduced area, causing a pressure drop (the Bernoulli principle) This pressure drop is what draws fuel up through the jets and into the airstream passing through the venturi. Fuel level in the bowl is critical as this pressure drop can only act on a very small area and it is fighting the weight of the column of fuel being drawn up through the jets. If the fuel level is low (but high enough to reach the jet), the fuel must be drawn up quite a ways through the passage to the venturi and require a greater vacuum to do so, making for a lean mixture. If the level is too high, The fuel doesn't have to travel as far as it normally would, so it does not need as much vacuum to pull it, making for a richer mixture. Think of a soda straw in a glass of water. When the glass is full and the straw only sticks up a bit above the water, it takes very little suction to draw the water up, but if the glass is almost empty it takes much more.
(Hope I explained it well...)