Great compression and a broken piston skirt..... not likely! What are the compression readings of all cylinders?
With the spark plugs removed, you should have spark at cranking speed that will jump a 7/16" gap with a strong blue lightning like flame... a real SNAP! Does it?
You can use a medium size philips screwdriver (#2 I believe) inserted into the spark plug boot spring connector, then hold the screwdriver shank approximately 7/16" away from the block to check the spark.
If the above two areas are as they should be, that does leave a fuel problem. The problem you describe is normally due to a clogged carburetor or a broken or stuck open leaf valve on a reed plate.
With the carburetor throats visible and when you're cranking the engine over or have it running, is a excessive fuel spray being blown out the #3 carburetor throat? (bad reed plate)