Ok, I'd like to get some advice please ...

[brush]

sounds like you're doing the right things. dead #1 spark and oil-in-water are clear symptoms that have to be fixed regardless. i'd echo that doing a compression test would be pretty easy and useful. also, will say (having just done it) that pulling the top timing belt cover to expose the cam sprocket and check the timing belt for slop/damage, is really pretty easy. good luck! look forward to hearng the report back.

[SyrsKnight]

Hey everyone, sorry for not getting back sooner...

Here is where i'm at now.... Ok I've changed the head gasket & gotten the motor back together, however, it still will not start. I have made sure that all the timing marks are correct and the distributor is set etc., however it wont crank, just spins over. The plugs & plug wires are new, the rotor is as well. I made sure to put fresh gas in it as well & changed the fuel filter.

When i got the head off the old gasket was blown in 2 places.... between the 1st & 2nd and between the 3rd & 4th. So new head gasket was necessary period. But this non-cranking is driving me nuts. It turns over but just wont catch, I'm fixing to go back out there & test for spark in each cylinder as well as making sure that the injectors are getting signal so that they can squirt the gas etc... But i really need some advice on this, I've worked on autos many years, not the 4G64 or Mitsubishi but on the Toyota 22R and more than i can count of 6 & 8 cylinder American cars like Ford, Chevy & Chrysler, But this is the first time in my 40+ yrs of doing this type of work on motors that i have gotten stumped this badly. If anyone has any tips tricks or advice on these issues please contact me. My motor is for 1990 Mighty Max Microcab, auto trans, 4G64 SOHC with ECM & throttle body. it does have A/C but it isnt hooked up or run.

Any help would be greatly appreciated. It was running & one night i was coming home, when i got off my exist & after doing 55 or 60 mph home, trying to pick up speed, it wouldn't go any faster than around 45 mph. Got it home, it had no power & while would crank, it would shut off if i tried to put it in drive. After 2 times of cranking, then after dying it wouldn't start again. This is why I knew the head gasket, for 1 thing, was in need of changing.
Thanks again and hope that someone can help me with this darn thing
SyrsKnight