Not sure the comp will tell you the problem. I doubt its a sensor, could be though.
Id check to make sure dizzy is spinning. IIRC, the timing chains on those werent too good.
Then as FWP said, check for voltages at various points; coil, dizzy, fuses. Check for corrosion at the connectors too.
I had bad corrosion on my friends 88 Ranger. Couldnt figure out the problem until we isolated the different areas and began stripping wire. The wire was nearly totally corroded away under the insulation.
Without a schematic, I cant think of much more to check. Did you have good contact when you checked for spark.