Volvo Repair: 1990 volvo 740 turbo with unknown problem, fuel pressure regulator, air intake system

Question
1990 volvo 740 turbo.
My wife was driving this car (which has 206,000 miles on it and has been running fine) when it suddenly died at a stoplight.  We have been unable to start it since.  It will turn over fine, battery power is good.  I checked the fault codes and I got a 1-1-1 reading in 2 and 6 holes.  There is spark to each spark plug and the plugs are new.  The fuel pressure regulator was blowing gas out the vacuum side so I replaced it, I know that gas is making it to the fuel rail and that the fuel pump is at least working to some extent.  The timing belt is not broken and looks intact.  The air filter is clean and no apparent problems with the air intake system or turbo.  After replacing the fuel pressure regulator I assumed the vehicle would start but it still will not!  It turns over fine, but will not start?  I even disconnected the battery to reset the computer.  
I have run out of ideas and am wondering what to do next.  

Answer
Mark, Did you check the Distributor cap and rotor?  Even though you show having spark it may be giving you a cross spark.  Did you replace the plugs before or after your replaced the regulator?  There is a speed sensor on top of the bell housing on the trans that goes bad and still shows having spark.  Roger