i can tell you know what your doing have you verified no spark from the plug them selfs or the coil? and not a flooded condition? if it is flooded that much some times it can't light the fuel or it cheery reds the exhaust header and y-pipe when it finally lights the gas. i am guessing it is no spark like your thinking. but you can take a screw driver stick the metal blade in the wire to the coil and hold it close to ground to verify no spark or weak spark. just be careful not to get zapped by like touching the metal screw driver blade... when doing this as you know the zap does not feel to good .
and yes the pick up coil tells when to fire the plugs it help sink the timing of the engine with the ecm... and can cause a no spark issue...
just trying to save you a problem is why i am thinking to verify spark. if there is none there is none by the way if you are going to pull the distributor mark it for easy install it will easy installation...
[This message has been edited by blacknotchback86 (edited 07-14-2013).]