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Im not exactly sure on your distributor timing, I think the rotor should point towards the front of the car (it should sit very close to before or even on the #1 post on the cap at tdc)
but did you test for signal from your maf?
Even after clearing these codes on my car, I still have to keep the plugs dry. If I let it sit overnight, my car only starts if I hold the pedal to the floor when i turn the key (it keeps the injectors from spraying). I'm assuming I have a very slow injector leak right now, so I'm still working on mine too.
Try getting them dry, turn the key to the run position but dont spin the starter, then pull the fuel pump fuse after the pressure builds and try to start the car a few times. (like the method i mentioned previously).
Sorry if this doesnt help. like I said, these 240s are hard to fix.
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