Hooray, Wallit runs again.....
	
	
		Finally after a few wet evenings I got home a bit early tonight and decided to try again. Phoned the PO on the way home to see if he had any clues.
Turns out the shut off knob when pushed overfuels the motor so with that in mind I bled the system again, installed the freshly charged battery (which had seen about 3 years use on the wife's Territory) and tried to start it. 
No smell of burning insulation now but it turned over very slowly, could be the battery but decided to check the leads to the starter motor and found a bad contact from the solenoid to the starter. Fixed that, gave it 10 seconds of glowplugs, pushed in the shut-off knob turned it over (much faster now) and it burst into life and the wifes car beside it disappeared in the biggest cloud of black smoke I've seen from a diesel.....
Kept it overfueled for a few seconds released the knob, the smoke cleared, and it settled down to tickover.
Quickly topped up the water and left Wallit running for a while. Noticed the alternator light stayed on but that may be down to another bad connection.
Phoned up the PO who was absolutely chuffed to bits that it was running again because he'd given up after trying to get a new flywheel made and it stood idle for 3 years.
Coolant flush, oil & filter change and trace the charging problems tomorrow....
Colin