And I never ever saw one actually jump a tooth on the timing chain, and even if it jumped one tooth, it would still probably run.

Crank it with the coil wire grounded (check for spark to the dizzy now by sticking a phillips head into the dizzy end of the coil wire, and while holding the PLASTIC PART, hold the shaft of the p-head about 1/4" from a ground, and crank it and the spark should jump hot and blue and a fast frequency. If no spark, it's either the coil (not likely), no 12v to the coil + (maybe), or the igniter in the dizzy (or it's wire connections - mine went bad a lot).

I think I still have my 85 truck FSM....

After you spark check it, Hook up an oil pressure gauge to the sender port where the dummy light switch is, or at the alternate main gallery tap just behind the timing cover. With a fully charged battery, crank it until you see oil pressure on the gauge. Don't crank it for more than 30sec at a time without at least a pause. I've had it take a newly rebuilt 2.6 without a primed oil pump take almost 5 minutes to show pressure. This one should be quicker. If no oil pressure, the motor is toast.

I envy you. My 85 truck was one of the best cornering vehicles I've ever owned when it had the tootsie roll tires on it and had the turbo motor for a little throttle steer action. Looked really tough, too, with the 4 headlights...