I had a 'big fuse' that went bad, and it caused the same thing. The motor would spin freely, but would not fire. Don't know how to describe the 'big fuse' except that I think it was a 20 Amp, blue fuse, in the box under the hood. I had a wire short out and blow the fuse.

95 Contour Zetec, ATX (wrecked, sitting in the barn) 95 Mystique Zetec, MTX 2000 Taurus SEL 3.0L Duratec 1994 Crown Victoria LX 4.6 V8 1993 Chevy Silverado 4.3 V6