Crank, no start.

[Scooterwrench]

Verified distributor is timed properly on TDC 1.

A good check for that would be to pull all the plug wires and ground them except #1 and check the timing with a light while someone is turning the key. Should be right around 0 to -4

 

[tdash]

My thought when he said it was popping back through intake.

As in engine itself skipped time?

 

[Scooterwrench]

As in engine itself skipped time?

Yeah,possibly timing chain has jumped a tooth. Have you done a compression test?

 

[1989GMCSIERRA]

where was the 55psi reading taken from in the fuel system? What is your fuel pressure at the rail? If it’s lower check then fuel filter. If you have fuel pressure at the rail at 55…..See if the injectors are opening. You should hear them click or get a noid light.
If not working you have a injector issue not a fuel pressure issue. The fuel is in the rail but not going anywhere because the injectors aren’t working well at least not getting a signal to open or close