good advice jablackburn.

CPS is the most likely culprit of a no-warning-signs no-start.
Make sure the sensor wire is routed away from the spark plug leads.
You can pull it out and try to clean it up with brake cleaner as well - they /can/ get gummed up from oil/oil vapour/dust but this is unlikely.

Definitely check for spark on a least one plug.

Is the fuel pump running? You should be able to hear it print when you first turn the key to pos II.

If you try to start with oil in the top of the cylinders, flooring the pedal will actually prevent any fuel from being injected - this foot-to-the-floor behaviour was built into the fuel system to emulate the conditions that drivers of carburated cars might expect if they performed the same procedure out of habit as if a flood was suspected (foot-to-floor = open throttle valve = evaporating gas).

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1998 V70 AWD->FWD Turbo 200k+