A steady stream of fuel doesn't necessarily mean you have enough pressure to start the engine test the pressure with a gauge. Auto zone rents the tester it is pricey (200 bones) but they give you a full refund when you bring it back or they sell it for 50 bones no refund unless defective. Back to the point we need to know what pressure you have.
Pressure is good! Do you know if the injectors are functioning? Have any starting fluid? See if it will run with starting fluid. Have you checked for spark since the no start condition developed? You say you did the KOEO test what codes did you get?
If everything is working right on the ignition system you will get a spark any time you have the key on and engine cranking/spinning/running. If you dont have a spark while cranking you need to find out why. Wont run with out it. Test it and get back to us.
to test the coil get out the DMM test the primary circuit for resistance it should be .3-1 ohms test the secondary circuit from the coil negative to the plug wire output resistance should be 8,000 to 11,500 ohms
Test for power at the coil with the key in the run position. Test ignition module output with a test light put the test light between the two wires at the coil harness if it flashes TFI module and PIP are functioning.
Coil primary circuit(see the below picture for TFI module pin out)
to test the coil primary circuit you should have already tested for 12v+ from coil to ground with key in run position now you need to test from TFI pin 2 to coil negative with harnesses disconnected resistance should be less than 5 ohms
next test from coil negative with only the coil harness disconnected to ground should be more than 10,000 ohms.
test power supply to the TFI module by using the chart in
PIP test distributor mounted TFI only
Test for AC voltage from pin 6 of the TFI module with harness connected to negative BATTERY terminal by cranking engine. AC voltage should be 3-8.5 volts
PIP test remote mount TFI only
remote mount module distributor harness
disconnect the distributor harness and test for 12v+ at pin 8 with the key in the run position now disconnect the S terminal at the starter solenoid/relay to disable the starter and turn key to start position test for voltage again. Hook the S terminal back up to the starter solenoid/relay test for AC voltage from pin 1 of the distributor to the negative BATTERY terminal by cranking engine. AC voltage should be between 3-8.5
measure from module pin 6 to distributor pin 1 resistance should be less than 5 ohms and finally measure from pin 6 of the remote TFI module to ground you should get more than 10,000 ohms.
where do the battery cables on that solenoid/relay go to? I dont think it is anything critical if the truck still starts I bet it doesn't go to the starter. on the hall effect sensor you have to pull the distributor out and remove the gear from the shaft, pull the shaft out of the dizzy, change the sensor and reassemble. time it and if you haven't done so yet do the sixlitre timing bump to 13.5*. check out this link for more detail on the PIP replacement http://www.turbotbird.com/techinfo/TFI-PIP/TFI-PIP.htm