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Remove a couple of plugs and see if they are wet with petrol.
If they are take them all out and turn the engine over with your foot on the floor so to put plenty of air through the engine.
Refit them and try to start it again, a quick squirt of Easy Start before you turn it over could help.
If you have a plug in code reader you could see if you are getting an RPM when you turn the starter, it will only be 100 to 200rpm but it will tell you if the Crank Position Sensor is working.
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I was told that you get the greatest fuel/petrol smell with a lean fuel/air mix. My Mustang runs lean at idle and smells really rich.
SJR
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A lean mixture can sometimes cause poor combustion and result in unburnt fuel in the exhaust. I have seen this on a wideband O2 sensor where the gauge pegged full rich at the time it happened (didn't notice the rich smell though).