I agree with some of the guys that it doesn't sound like a compression issue. If it ran at idle and then drove 100 yards and died unless you heard one hell of a a racket coming from the engine before it died that is probably not it.
How did you do the compression test, is your gauge screw in or hold in?
If compression were an issue the starter fluid would still work because it is so much more flammable and already partly atomized. Have you tried starter fluid since you put in the new distro?
Sounds electrical or a combo of a lot of things.
An auto parts store should have a spark tester, clear plastic thing goes between spark plug and wire so you can see it. Or one that flashes with the spark. Check all cylinders.
Electrical can be a bitch, it sounds like a lot of things were changed is there is a lot to track down. Can you remove / disconnect some of the other electronic components and get it down to the basics?
Run some extra ground wires right off the battery to the components.
If you have been cranking and cranking what is the voltage in the battery? Make sure it is up near 14.4V, use a starter booster to get it up there.
I haven't read the whole thread but if you have a weak battery, low spark, low compression, bad timing, bad plugs and or wires you will have a hell of a time chasing it down.
But because it ran with a new distributor
and then died and will not start again I would put money on electrical. Check all fuses, fusible link, distributor, condenser, coil, inspect all the electrical, every wire in the starting /running system to look for a bad wire/break.
What voltage is the alternator putting out? Too low is a problem to high could be blowing something.
Sorry you are having so many issues but jumping to a new engine when it might not solve the problem will really make you mad.