Thanks its coming up as a 94-96 350 Ski with a MEFI 1 and EST distributor
Your pic verify's the MEFI 1
Either way all good, wiring will be the same
With the tach showing 300 rpm then the ECM is seeing the distributor is firing. The ECM is not turning on the injectors or the fuel pressure is real low that the fuel will not come out.
I don't think its fuel pressure but needs to be checked, and should be 30 psi. Could check it by removing the fuel line and connecting a gauge. There is a fitting which is normally used p/n 19-18078
Check it for codes by using a paper clip and 12V resistor LED connected to the DLC connector. Figuring you may not have the LED, can use a voltmeter with a tone setting. Connect the paper clip and LED then turn key ON. Then start counting flashes