Not at all familiar with your engine, and NOT a pro, but what you describe sounds a lot like what happened to my buddies car some years back.. (Yes, different than boats, but it's still an engine..)
He didn't put the wires back on correctly.. Cylinders fired in wrong order and the timing belt jumped, and then valves hit pistons etc..
Don't know if that's what happened in your engine, but maybe it could be possible..
I might double check the plug wires to be sure they are on the right posts on distributor..
But even before that, if possible, can you manually turn the engine over with a breaker bar or similar method?
I'd probably see if you can do that and have it cycle 720 degrees by hand before trying to start with starter again..
I think 720 degrees of rotation should give each cylinder a TDC on both compression and exhaust stroke with valves in respective positions..
(Edit: I think there should be 3 bolt holes in your harmonic balancer/crankshaft pulley on the front of the engine.
Put some bolts in those 3 holes, and use them as leverage to manually turn the engine. Do NOT use a socket on the end of the crankshaft.. Remove all spark plugs when turning by hand... end Edit.. )
Maybe it's something really simple, and you'll be lucky, but the bottom line I'm thinking, is go back to basics.. Can you turn engine by hand?
Start by expecting the worst, and eliminating things with testing. From the most basic to more advanced.
You'll find what the issue is.
It's been YEARS since I've done that kind of work, but I think you may know what I mean.
Others will be along very shortly I'm sure to give better advice than I can, but maybe a start?