Engine wont start when hot!!! help!

[v8vinny]

So my friend just picked up this '91 notch. its got a fuel injected 5.0 with a 5-speed. This car at one time was a race car, that was stripped by the owner and made a street car again and then sold resold and my friend now owns it. So the motor appears stock, but you can see it has full length headers to a hack job of an exhaust, no p/s no a.c. The motor deffinetly has cam in it which seems like it might be an X-cam or something along the lines of that because its deffinetly noticeable. On top of that its got a crane cams fireball ignition. Heres the problem in the morning(or when the car is cold) it will start fine and run perfect, besides the horrible idle from the monster cam. Now once the motor is hot and you shut the car off, thats it! it will not start again untill it is cold. Ok yea my thought was the module too. So we did the basics Cap Rotor wire set plugs and module. Next day same porblem.
When the car wouldn't start i checked for spark, i checked for fuel it had everything, but it cranks like there are no plugs in the motor like it loses compression. The odd thing is though when it runs it runs strong, and we tested compression and its got perfect compression, and when it runs the timing is dead on. The motor will not fire untill it sits for at least 4 hours. Then i tried once when the problem occured, ether. It fired when the ether i used the ether and the problem was happening. So i thought ok maybe we dont have enough fuel. Changed the fuel filter, still problem is there. I NEED HELP! anyone have any ideas let me know,
Thanks alot,
Vinny