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Cat 416B cranks but won't start

It ran fine before until this time I tried to start it and it didn't want to fire. The lift fuel pump is new. I primed it multiple times, but no luck. I checked for fuel at the injectors and it squirts. Also, a smoke is coming off the exhaust which I think it's getting fuel.

I read about fuel shut off valve and I don't think this model has one. 

I didn't try to spray ether in the air filter because of the horror stories I read about, and there is a big sign below air filter stating no spraying.

What should I be looking for to troubleshoot this one?

Model: 416B

PIN: 8S001690

ENGINE: 5HK02460