slant six starting problems

Sorry,

Forgot that you had electronic ignition. It sounds like you might have a bad ignition switch because you said that the coil produces a spark when you let go of the key. There are 2 circuits built into the ignition switch, one that provides full battery voltage to the positive (+) side of the coil when cranking (this insures a hotter spark when starting a cold engine) and a second contact that runs the batter voltage through the ballast resistor to the positive (+) side of the coil. This lower voltage (typically around 9 or 10 volts) is used so that the coil doesn't overheat and burn the coil open. You can try, as a test, using a jumper from the battery positive terminal or starter relay to the positive (+) side of the coil. Crank the engine and if it starts you probably have a bad ignition switch. DO NOT leave the jumper connected for a long period as you could burn open the coil.

Good Luck