Update 3/4/14 (part II)
This evening I had a friend come over to help me check the distributor. We located TDC on cylinder #1 and found that the distributor was pointed directly at spark plug wire #1 just as it should be.
We then experimented with advancing the timing in two degree increments up to about 18 degrees. The engine ran like crap no matter what we set the timing at. We were able to observe a few interesting things with the timing light, however. First, at idle the timing was consistent. Second, at a throttle position just above idle the engine kept surging along with the timing visibly increasing and decreasing. Third, at just a slightly higher throttle position everything smoothed out again. Fourth, on more than one occasion we noted that the flashing of the timing light seemed to slow way down (like almost half of what it should have been).
We then decided to switch around the spark plug wires to the non-HO firing order. After doing this, the engine would only crank with no attempt at starting. I thought to myself, "Great! We just verified that it is an HO motor." We put the spark plug wires back in the HO firing order and discovered that the engine still would only crank with no attempt at starting. At this point I thinking something along the lines of, "Are you freakin' kidding me?!" Further testing revealed that there was absolutely no spark at any of the cylinders or coming out of the coil.
With the TFI module and the distributor barely even warm to the touch, I estimate that we spent the next 30 to 40 minutes discussing the computer, the TFI module, and the pickup sensor as possible suspects for this extremely depressing ignition failure. During that time several unsuccessful attempts were made to restart the engine. It wasn't until we decided it was time to start pushing the Jeep off the street that it miraculously restarted. For perhaps 30 seconds it seemed to actually run well, but then it went back to running like crap again. We quickly moved the Jeep off the road and then let it sit idling while we discussed the absurdity of everything that had happened. Within about 15 minutes the engine died and would not restart again. Before walking away in absolute disgust I noted that the TFI module and distributor were much warmer but not even close to being too hot to touch.
Thoughts?
Ideas?
Suggestions?