So after two days of tinkering, I'm down to two possiblilities, neither of which seem probable.
I started by removing all plugs from the PO and doing a compression check. Lowest was 140, highest was 150 and the rest were in between. Plug 6 was totally covered with carbon/oil, so either the wire or plug was dead, or on a 30k Goodwrench I've got a bad valve stem seal.
Next I removed the main pulley and compared the harmonic balancer to a brand new one from NAPA. Timing mark matched the OEM exactly. Sh!t.
Gap the new AC plugs to .045 and put the new Taylor wires in. Made sure I was on #1 TDC Compression and marked the base of the dist. and put the cap on. Started the firing rotation with the second tower clockwise from the tach/wiring node of the cap. Fired truck up at 8* BTDC it ran for a short time, as before, and died. Cranked the dist CCW and she runs fine. Idle miss is gone and power slightly up. WOT miss under load is gone.
Timing mark is at 12'oclock. WTF!!!! I can only think of two explanations. Something changed from 1977 to 1997 RE the crank or harmonic balancer, or my 25 year old Sun inductive timing light is F'd.
Thoughts?
At this point, and the only reason that I care, is that I'm stumped, and I'm never stumped on stuff like this.