87 454 TBI only starts with starting fluid

[crisco]

All of the sudden my crew cab died on the way home a few months back. (I don't drive it much)
It starts on starting fluid, and will stay running. It even restarts if it doesn't sit for long. It's like the system is bleeding down fuel pressure and not getting a signal to turn the pump on until it's running.
SO, in a nutshell, the fuel pump works, there is spark, and it runs. Just wont start on its own.

Has anyone on here ran into this problem and diagnosed it?