My crankshaft position sensor went out right after I had replaced the slave cylinder on my 92 last year. It kind of threw me off when it started bucking, missing, and then ceased to run completely. It would turn over but not ever even close to catch or give me any sign of combustion. I got a fuel pressure gauge which told me I had pressure (I could also hear the pump priming when I turned the key from the OFF to the ON--not START--position). I checked for spark and nothing. Swapped the coil with my parts Jeep (which still would try to start at that point thus telling me that coil was fine) and still no spark. Girlfriend(!) suggested I change the CPS, and we did, and it started and ran ever since. I never would have guessed that I would suddenly go from spark to no spark in an instant, or at that particular instant, but if a part fails, it has to happen sometime. I second replacing the CPS if it is a spark problem.
If you're going to check fuel pressure by simply pressing the shraeder valve on the fuel rail, I'd cover it with a rag so you don't get it shooting towards your face. It is a quick and easy test but use common sense about the safety aspect.
