So,,, the engine has a good hot spark,, correct? How did it go from running poor, to now not running at all?

If it does have a healthy spark, and you think it may be a timing issues unplug the Spout bar and put a good timing light on it and have someone crank the engine over as you check for a base timing 'flash' at the marks. If it's chained up right, balancer hasn't spun, you should see an 'adjustable' range on the balancer. Any popping/coughing when attempting to start?

 

I don't want to give you something else to replace, but did your distributor have an ignition module mounted on it or not?
Stick with Hayapower's suggestion and follow through with the steps . If you now have a "no start" condition, Hayapower's suggestions should tell us quite a bit.

 

true enough the distributer is new but could be bad ,i bought a loaded one all new ,i used an hei spark tester and all work fine timming is on ,new balancer,150 lbs compression on almost all cylanders,40 lbs gas prsr,new wires new tps [works],new egr,new plugs,great spring and good seating,new coil,turns over no starting doesnot even try now any one with a wiring diagram of the eec and motor mabey that is my issue,since it died very slowly and then all at once

 

From what I am able to grasp, you do have spark as shown by the spark tester and the functioning timing light. Is this correct ? As stated previously, If you have spark and fuel and the timing is correct there has to be a problem with the intake or exhaust and I am leaning toward a plugged exhaust system. How was the converter checked? That has my curiosity going?
It is possible the converter was partially plugged when it was checked , but could be plugged much more now.
The substrate inside them does crack and crumble and could cause a blockage of the exhaust in which case the engine can't breathe. A vacuum test while cranking could give us a clue. Let us know what reading you get.
Also to be absolutely sure about the timing mark you must get that #1 piston up on the compression stroke and see physically where that distributor is pointing.

 

With a restricted exhaust, usually you'll have some sort of low end unless its completely plugged. It should at least cough, sputter, or pop, something?!? while cranking. If it were a restriction, you could try pulling the 02 and see if it will idle. Or pressure test for a restriction there.

If not starting at all, are the plugs wet? Didn't see anything in the posts that they were ever checked. If dry, will it fire on a short shot of ether?

If your certain its cabled right, chained up right, distributor is clocked right, fuel pressure is spec., good hot spark, then possibly there's no injector fuel drop?

 

Hello and thanks to all up and running at last ,the problems were many and fixes wer few and diverse ,first of all was the problem I was trying to fix it like a chevy ,kinda goes like this what i did not know was this computer solves problems by putting things in preset loops to keep it running 5 to be exact ,after the fixes were done i found out the eec was junk so a new one was installed ,then the actuall process of a reset and a propper timming reset in this order 1.tdc on crank on compression 2.disconnect coil wire and remove cap ,3.rotor at #8 cylander ,straight line to it remove and reinstall as needed 4.with key on rotate to left counter clockwise till 3 things happen a spark,a injector fire and last fuel pumprun and shut off or recycle,do this slowly and then revers direction till it does this again , this will be a tighten and done procceedure no other tweeking needs to be done ,I got this by coverseing with a 35 year factory ford test mech. and he was on the money runs like a bullet power like ive never seen and my millage is a boon to my wallet,so a quick recap 900$ and 70 hrs just to learn what they do in the factory and how it all works and why it works that way an erstwhile project all in all .Gary