No start and I have the correct fuel pressure when the key is turned on. but it does is crank over with no startup. and the pressure holds.
That only means the pump has primed the injectors...it does not mean that it can keep up. Priming is only 2 seconds then it shuts off until the engine fires.
Once running the engine can easily suck the system down if the filter is clogged or the tank sock is plugged or a worn pump. Thats why the need for test key off AND while running.
NOTE:
the way the needle on the gauge behaves means EVERYTHING.
if the needle dances around while idling, any, something is wrong with the pump/filters. The needle should be stable until there is a change in RPM (demand for fuel) and that should be smooth. The pressure should drop slightly during cranking to indicate that the injectors ARE operating. Confirm with Noid.
Having static pressure does not mean that the injectors are operating. It just means there is pressure on them. The injectors still need a good signal to open. Use a "noid-lite" to see if the injectors are getting a signal. $8 tool at most parts stores.
No fire, if thats been proven by the removal of a spark plug wire and grounding on the block while cranking, or the use of a spark tester lite, go back and look at the wires to the distributer. Especially the 2 on the outside,. There are 3 in a plug that snap in behind the 2. I have seen a loose batt wire that would kill the ignition in right turns, and finally came off and killed all spark. Also the wires inside the cap that run from the edge of the dist base to the inside module get damaged by the cap pinching them and they will ground out or wear the insulation off. Finally, the module itself or its plug.
Look closely at the red Batt wire to the cap. its the heavier wire on the right. Left is the tach wire. The cap/coil needs to be cleaned periodically. The contacts corrode and even break off under the coil. Check that ground tab on the coil.