no thats not tru....mines 87 laredo it has electric fuel pump in tank. if you have fuel injection which you said you do then you have a pump in tank. purolator fuel filter 10 bux its on left frame rail by tank size of beer can change it see iif it helps...

 

what i mean is that there istwo like he asked one in the tank and one out side of the tank. just saying i just saw today when i was looking up stuff on my 87 it said L6-242 mfi. i just saw it and like i said not 100% sure less than 80%forsure hahaha

 

Is it getting fuel, air and spark?

Test all three, Do your pressure test, then pull a spark plug and lay it where the threaded part is grounded and the rest isn't touching anything and go for a start, (just a bump) when that cylinder fires the plug should arch. ALso while the plug is out you should get a sucking and whooshing sound through the hole.

Any of that doesn't do what it's supposed to, post it.

With the spark plug removed if it doesn't suck air your timing chain is broken.

 

Sounds like you have plenty of suggestions. hold open the schrader until you get fuel flow. Make sure you have pressure of 31+ lbs. You next need to check for spark. If you have spark and you now have fuel then it should start.
If you have a continued no start situation then you need to pull the air filter off and check it for oil soak. Usually if you have a soaked air filter you can smell the fuel but it won't start b/c you are choking it to death. That oil in the airbox is called "Blowby" and it means a rebuild is very near.
HTH
Blue

 

you can hook a pressure gauge to the valve on the fuel rail and the pressure should be about 30 psi

 

is there an ECM on the distributor like a chevy????

 

Pull of the air intake and spray some brake cleaner in there and then try to start it. It should start even if it isn't getting fuel. If it still doesn't check spark. Could be the coil.

 

what about the computer could it be bad?