Thanks everyone! A lot of good ideas are coming in.
jknightg - I checked the ground connection at the battery and the block. Both connections are very solid. When I hold my volt meter from the + battery terminal to the block, I am getting a good 12.2 volt reading. Don't think this is the problem.
mikidymac - I think you're right about fuel. Considering that I am seeing a nice fuel spray from each injector with the fuel rail off tells me that I am getting fuel flow. I consistently get 56 psi fuel pressure at the fuel rain inlet. Also, because the engine was running great then stopped instantly, tells me that the fuel quality is probably OK. Not 100% sure on this though.
ragerxxx - I like your idea about air flow. Hadn't considered this before. My question is, if the rotary valve is turning and I am getting good compression, why would air flow be low or nonexistent? Could the blockage be in the throttle valve or air filter? What could cause this? I can see the throttle valve moving when I press the throttle lever. Also, if air flow is a problem, could the exhaust ports be blocked? Is anyone concerned about the RAVE valves? I don't mind disassembling things but I want to have some assurance that I am working in the right area before I begin.
Before I start disassembling the intake, I would appreciate your thoughts on my questions in this post.
Thanks again!