Timing chain is my first suspect. Line that sucker up on TDC, yank the cap and see where the rotor is pointing, then go from there.
The other thing I've had happen to me is the roll pin holding the gear on the dist. broke. Only happened once before, but it's worth checking out.
Like I said, line her up on TDC, yank the cap. See where the rotor is pointing, should be at #1 spark plug wire. THEN see if you can turn the rotor by hand. If you can turn the rotor, either the roll pin went, or the dist gear. If you can't turn it and the rotor isn't where it should be, then it's the timing chain.
I'm puttin donuts to dollars its the chain...
