Crank, No Start Condition on 2001 Mustang?

I have this 2001 Ford Mustang GT sitting here. It has the 4.6L V-8. The car will crank, but does not fire. No fuel pressure at the rail. Disconnected filter to eliminate clog issue, pump is not running. All pump and engine control fuses are good. Inertia Switch is NOT tripped. Is the only relay in the CCRM or is that just the older ones? I don't see another relay anywhere for the fuel system.

I have also tried to spray some ether in the intake. It still didn't fire. This is making me hesitant on charging a customer $300 for an unnecessary part. I didn't shoot it directly into the throttle body, so it's possible that it didn't get enough in the cylinders. I can try that again, but I'm not optimistic about the potential results.

I thought maybe a PATS fault… Theft light does NOT flash. It does come on when you turn the key on then shuts off. Turn the key to crank and it comes back on for a second then goes out again. Not sure what that means, but from what I know, it's supposed to flash rapidly when the key is wrong/missing the transponder. Am I wrong here? Also, I'm pretty sure the PATS only cuts the fuel pump. I would expect it to fire on ether. No? Does it cut the spark too? Can't really test that right now as I don't have an extra set of hands available…
Added (1). I'm the only one here right now. I also don't do a lot of in-depth diagnostics. I generally do maintenance, inspections, repairs and that sort of thing. I leave the diagnostics to my "lackeys". I needed to catch up on this back log of crap so I came in on Saturday when I'm not even open. Figured I'd take a look at this beast. Now I'm scratching my head but it's up on the lift so what the hell. Any thoughts?

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