88 350 TBI Fires but won't stay running

[350YJTBI]

Hello everyone!

I am new to the forum and I have a very frustrating issue with my 88 350 TBI.

The issue is that the engine will crank fine, fuel sprays, and the engine fires up but immediately dies when I let go of the key. If I keep the key in the start position the starter will obviously continue to turn but I can rev the engine up with the throttle until I let go of the key again. As far as I can tell fuel is being cut off after initial start up when the key is released but I could be wrong on that.

Here is what I have confirmed:

1) I have strong spark, timing is accurate
2) Fuel pressure is 30 lbs at the throttle body from the pump and fuel sprays strong from the injectors

Possible issues I'm considering but would appreciate further guidance on:

1) Bad ignition control module
2) Bad fuel pressure regulator in the throttle body
3) Bad computer
4) Bad Coolant Temp Sensor (I tried unplugging it and starting it, same issue)

Oil pressure switch is new and the distributor, cap, and rotor have less than 1000 miles.

Any help would be greatly appreciated! thank you