View attachment 206043View attachment 206039View attachment 206040View attachment 206041
Sounds like a bad CD box if there is no voltage on the grey wire. See: When the distributor signals the transistor inside the CD box via the electric eye, that transistor dumps the capacitors into the coil for a very fast voltage rise and a very high, sharp spike of voltage to the sparkplug.
When you crank the engine battery voltage can drop as low as 9 volts and the red wire to the CD box will only charge at 9 volts--should still be enough to spark with a good CD box. But in your case, perhaps not. When you let go of the key, battery voltage rises to 12-13 volts and the capacitors charge fully. Electronics also are getting full voltage and you get a spark---but the engine isn't turning and so it will not start.
With the hood off and the controls in fast idle/warm-up, try rope starting with the ignition on and the choke held closed with some sort of brace. It is not as difficult as you might think--just be certain to brace yourself. You may need a squirt of starting fluid in each carb. (Yeah, I know starting fluid is bad to use but this is a one time use). If the engine starts and runs, then yes, most likely you have a CD box going bad.
Edit: Whoops, clicked on the wrong photo.
BTW: Have you checked the ground from the negative side of the coil to the distributor mount? A broken wire here will give erratic sparks