Hey there, this is my first post, so not to sound like an idiot, but I have seen several scenerios like the one you described...
First, the fuel pressure regulator goes iffy, allowing too much pressure, flooding the engine.
Each cylinder is soaked in gas, which washes the cylinder down and gives the impression of having no compression. One remedy is squirting a little bit of motor oil in each cylinder AFTER a good suirt of STARTER FLUID. Usually will crank right up.
I know it sounds bizarre, but I've seen it happen. One minute all is fine, then the next, it isnt running and after a compression test, it's bad news. All this because the cyclinders got totally soaked with fuel.
Just my .02, hope it helped allthough, the thread started two months ago....
Cheer and beers
Hodge