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1. To chastise you a bit: DO NOT THROW PARTS AT A PROBLEM. That just costs money.
2. With that said it sounds like the last things left are compression and ignition:
First: You can do a compression test (I don't think that is it though)
Second: Check the ignition by pulling all the plugs and grounding them somewhere. Get a buddy to tell you if they are firing careful though as you haven't shut off the fuel and you could get a bit of ignition (not that I have ever done that)
Third: Replace the oil idiot lite sensor with a pressure actuator that will give you a linear resistance in correspondence with engine oil pressure. (gut feeling says you have a pressure issue)
Good luck! And let me know how it goes. Spencera12@yahoo.com
Andrew
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