Compression should be up to 475 or so PSI, the lower limit from memory is 350. Its checked through the glow plug hole with the fuel lever in the off position, you don't want it firing and blowing the gauge up!.
I personally would pull the injectors and lines, put the short tube line on the pump and attach an injector facing down, crank and see if you get fuel spraying out, if there is no spray your injectors may be stuck, this does happen! I have personally had this problem before, i pulled the injectors apart and got the needle in the nozzle moving again and it worked sweet. You can get it done at a diesel shop too. As you said there is no smoke and fuel to the injectors i do suspect stuck needles in the injectors.
Does any of that make sense?
If you want to have a stab at pulling an injector, they aren't that complicated just ensure you put all the shims back and that the other parts go the rite way around. I found with stuck needles that i could hold the back in the vice and turn the nozzle and it would come free, then using WD40 i ran it in and out a few times and blew down with air till it felt smooth, then re-assembled with WD40 I did check them with the pimp and a tube line then installed them in the engine, presto!