Fuel coming out of the exhaust is bad, over primed most likely. Don't confuse that with the oily stuff that comes out the exhaust when it is running, that is normal.
If you over primed, the excess fuel can cause the glow plug to not be hot enough.
Did you fiddle with the idle screw on the carb? ((EDIT:see that you did. Doh!) If so... Don't do that any more. Read the manual and find the default idle screw setting and put it back. Fiddling with the idle screw shouldn't prevent it from starting so much as make it die or refuse to run at idle speed.
Be sure to closely follow the starting and break instructions for needle valve settings. You want to run a tank or two or three through it very very rich before running it lean and driving it.
When starting, open the throttle about halfway to start. If it doesn't start, close the throttle a little bit and try again, etc. There should be instructions for throttle settings in the manual that came with the engine. I like to prime by squirting just a few drops of fuel into the carb.
Keep in mind that I fly the airplanes, I expect that the process is the same (more or less) for the cars. Also, hand starting a brand new nitro engine can be frustrating. I always use a starter now days, much easier.
What brand is the engine? Some are pickier then others.