Ok, I feel better that we all know we are dealing with a possible very high mileage engine and for sure dead spark from the way you said you checked it.
A lot of people would not know to do that much, so kudos to you!

Next I would like to hear that you did the same test but with the coil disconnected from the wiring all together except for the distributor wire.

I think we should fire the coil all by itself with the cars battery only.

If you do not have a set of jumper wires this is a good time to acquire a set. This will be one important piece to an emergency roadside kit you should have no matter what you drive.
Now,
One side of the coil (+) plus side gets hooked directly to the battery (+) plus side.
The other side you will have a wire hang off the minus side. You will first ground this and then in unground it. This will charge the coil up and then make the coil fire into the distributor wire.
This way you proof the coil and the wire itself to be good.
It will prove that (if) the ICU was working that in all likely hood the (now newer) module would fire the coil and the wire.

I am also curious that when you were checking out that wire, with that has the fuse in it, that runs between the battery and the terminal block on the fender did you ever think to use a jumper and bypass it all together? This will eliminate a bad wire, corrosion or any other weird things with it.

From this point I or we need to know if you own and know how to use a Voltage test meter?
It might explain why, we all, did not feel satisfied, and all including yourself, that it was in fact doing its job.

From this point, the Bricksters, need more input on how to lead you to the next steps of tracing and logical troubleshooting.

I do not discount the lack of compression but seeing no spark is the first course of action in any attempt to restore operation to an engine. As having good ignition spark "has always been" a weak link in the chain of events that needs to happen!

Recent advances of putting the coil right on the plug,removes three items ( wire, rotor, and cap) but there are still some issues with this new approach. I would not know how to check each coil on those under a shade tree let alone on the side of the road?

Also, until we get spark, I would disconnect fuel injectors and leave the plugs loose or out when cranking to keep the cylinders clear of fuel. You can add a squirt of oil the whole time with out fouling the plugs too!

In any case, keep at the car and the keyboard!

Phil