THE ACFT COLLIDED WITH PWR LINES DURING AN ATTEMPTED GO-AROUND. WITNESSES STATED THE ACFT WAS NOSE LOW UNTIL JUST PRIOR TO TOUCHDOWN WHEN IT PITCHED UP. THE ACFT BOUNCED INTO THE AIR AND TOUCHED DOWN ON THE NOSE GEAR. THE ACFT 'ROCKED SIDE TO SIDE' ON THE RWY AND ONCE AGAIN BECAME AIRBORNE. IT TRAVELED APRX 200 TO 300 FT AT AN ALT OF 20 TO 30 FT AGL BEFORE TOUCHING DOWN A THIRD TIME. WITNESSES CONTINUED TO STATE A GO-AROUND WAS INITIATED NEAR THE END OF THE RWY AND THE ACFT CONTACTED THE PWR LINES WHILE IN A LEFT BANK AFTER WHICH IT COLLIDED WITH THE GROUND AND ERRUPTED INTO FLAMES. THE PLT WAS FLYING THE ACFT TO BLOOMSBURG SO MAINTENANCE COULD BE PERFORMED AFTER A SMALL OIL LEAK AND LOW COMPRESSION WERE NOTED. AN INVESTIGATION REVEALED A LOWER COMPRESSION IN THE NUMBER 6 CYL THAN IN THE OTHERS. MEASUREMENT ON THE WING FLAP ACTUATOR EXTENSION CORRELATES TO A 12 DEG FLAP SETTING. THE PLT/OPERATOR HANDBOOK CALLS FOR FULL FLAPS DURING SHORT FLD LANDINGS AND FOR FLAPS TO BE RETRACTED TO 20 DEGS DURING GO-AROUNDS UNTIL CLEAR OF OBSTACLES.