2000 Continental wouldn't start

4.6 L DOHC engine...strangest thing happened and I'm going to assume that it's related to the computer, sensors, etc...car sat outside without begin started for a couple of days and there was a lot of moisture in the air, with temps just above freezing the whole time. Got in and tried to start it and there was only an odd spinning sound...kinda like the starter was spinning , but not engaged...like a bad solenoid. Well, I asked somebody else to crank it and all the belts were turning (alternator, power steering, etc)...Oh Geez, I figure, looks like no compression, so now I KNOW I've got a major problem...Steamed now, I get inside and crank it anyway, pedal to the floor, and I get a small "ignition" sound...I try it again and it starts and billows white smoke and moisture outta both exhaust pipes for several minutes...with water actually puddling behind & under the exhaust. I let it run, and have since started it 2-3 times without issue, and have parked it in the dry garage.

My question is just this, "How come, suddenly, did this happen?" I've got to assume that it was computer, sensor, related...but why the odd cranking without any firing and what looked like NO compression?...it was spinning WAY too easy. Or might it do that when it's not firing?

Thoughts?

4.6 L DOHC engine...strangest thing happened and I'm going to assume that it's related to the computer, sensors, etc...car sat outside without begin started for a couple of days and there was a lot of moisture in the air, with temps just above freezing the whole time. Got in and tried to start it and there was only an odd spinning sound...kinda like the starter was spinning , but not engaged...like a bad solenoid. Well, I asked somebody else to crank it and all the belts were turning (alternator, power steering, etc)...Oh Geez, I figure, looks like no compression, so now I KNOW I've got a major problem...Steamed now, I get inside and crank it anyway, pedal to the floor, and I get a small "ignition" sound...I try it again and it starts and billows white smoke and moisture outta both exhaust pipes for several minutes...with water actually puddling behind & under the exhaust. I let it run, and have since started it 2-3 times without issue, and have parked it in the dry garage.

My question is just this, "How come, suddenly, did this happen?" I've got to assume that it was computer, sensor, related...but why the odd cranking without any firing and what looked like NO compression?...it was spinning WAY too easy. Or might it do that when it's not firing?

Thoughts?
I have a 99 continental that did the same thing about 2 weeks ago and then seemed ok. Last night it started backfiring and wouldn't stay running and so I had it towed to the dealer. They just called to say theat 5,6,7,8 cylinder are dead and that it would be cheaper ($5500.00) to replace the engine than to have them tear it apart and start working on it. What do you think?

HOLY COW!!!! that's not good news...mine's been working great! Do you mean that I only haVe two more weeks before mine DIES?!?

So yours worked OK for a couple of weeks? was there any difficulty starting as a warning? any smoking?

also LESA, I just now spoke with an auto mechanic friend of mine and he said that it sounds (my problem) like the moisture is affecting a "short circuit" somewhere (probably the computer module) and - in my case - then causing it to "flood" the engine...then start later, with the pedal to the floor, and smoke alot.