Damn, I know its got something to do with fuel pressure though. Anyone know what would be in place of a fuel pressure regulator that fuel pressure could bleed off from?

 

I have a 91 with a returnless system...

 

ok i know this may seem a lil out of place but i refer to this every time i get in a jam.. Got back to the basics to trouble shoot. No need to replace things but you need to test, each sensor, relay, fuse, and connector. You seem do have ruled it down to fuel pressure issue, so begin at key on and when fuel pump starts.. You know it works, but we dont know if the filters are dirty, or if the pump is supplying the correct amunt of pressure. maybe the pump itself is worn down. When was it checked or replaced. If known. Then it runs under the body and to the rail.. Maybe you have pinch line somewhere underneath. Or there another type of problem within the lines or visible on the outside.. At the rail like you stated is a returnless system. Maybe you have bad injector(s) causing the flooding and poor compressin at start up.

Personally its sound like the fuel pump might have a dirty filter. But im no certified mechanic so i cant garuntee my words. But just something to look at before you start dropping in to much money in sensors and such.