Spray fuel into the intake to confirm No Spark, 50/50 test, humor me
So coil sparks in rhythm while cranking engine over, not just one spark, so ICM is timing the coil
And no spark on #1 wire, if so then rotor is bad, its not passing spark, or new cap is, center plugin is bad, no connection to rotor
And that's all it can be, not a complicated system
One thing to check is if the Coil's + terminal has 12volts................
while cranking, in 1988 there can be TWO 12volt pathways from ignition switch to Coil and ICM, one for RUN, and one for START
In RUN(on) 12v comes from a red/blue wire, then in START red/blue 12v is cut off and a Brown wire provides the 12volt for startup
This is a hold over from the Ballast resistor(wire) days
Long shot but not a no shot
There is a hall effect sensor in the distributor, it reads the "vanes" as distributor turns
The ICM(TFI) uses the "Vane pulse" to time the coil's grounding
Coils have 12v on + terminal when key is on
The ICM grounds the - terminal to charge up the coil then UNgrounds the coil to get it to Spark
You can test if coil is getting the "ground pulse" by using a 12v test light from battery Positive to Coil -
Test light will pulse when you crank engine
If you have a tachometer you should see it move when cranking, thats the ground pulse from ICM
Also if you have a CEL(check engine light) it should go OFF when cranking, that also means there is a ground pulse from ICM