Ok, I will give as much detail as possible, your help would be most appreciated.

I threw my serpentine belt. Replaced it, drove the car for 30 minutes, everything seemed fine. Shut it off, started driving again 5 minutes later and 1/4 mile later, it chugged once like I was out of fuel, then it rapidly lost power and died. Towed it to school. Compression was 150-175-170-155. I was told after another class was diagnosing it that feul pressure dropped to almost zero under load. Replaced fuel pump. Another class got it to run under wide open throttle and it was VERY rich, it would just chug, chug, chug and the entire shop was filled with the sweet smell of fuel exhaust. They said my injectors were firing at .050 instead of the .012 or so that they should. I thought timing off the bat, but was overruled so the school could probe it more. I replaced plugs and wires with motorcraft parts. I had enough, moved the car home took of the timing cover and the belt had skipped a tooth. Put new belt on, still nothing. I do have spark (although 2 plugs were not the brightest blue) I still have fuel. The only step I did not follow (according to alldata) was after rolling the engine over twice, and double checking the timing marks (which are dead on) it said to loosen the tensioner bolt, and re-torque.

Questions.
1) Would not re-torqueing the bolt cause it to skip again?
2) With both timing marks at the top, #1 IS at tdc! am I 180 off?
3) Would a stuck pressure regulator or a faulty TPS be the problem (the plugs are soaked after minimal cranking)?

Finally just by chance when my serp belt went it didnt come right off, it frayed, with the crank sensor being right its path, could it have been slapped silly, and is there any way to check it? My car has 163,000 miles and has been very good to me. Still has the original clutch. The only things replaced before this fiasco have been the alternator(150,000), battery (140,000), plugs & wires (85,000), brakes, oil, serp belt, and my balencer actually seperated at around 100,000. Bought a boneyard one and havent looked at it since.