i have a 1989 firebird formula i just bought. when i first go outside the car starts up and runs beautiful however if i shut the car off and try restarting it it will just crank . ill have to wait a few minutes and the car will start again has any one seen this problem or ran into it before ? i think it might be with the key chip. i checked for spark and have plenty of spark

 

Have you checked your fuel pressure before you crank it and after you shut it off and try to restart?

 

I have a 89 formula 350 tpi and I have the exact same problem. It started after I lost my stupid key with the dumb chip in it. I used the bypass method and it is acting stupid. So far we have replaced the igniton moduel, pickup coil and the fuel filter none of this crap has worked and its pushing 45lbs of fuel pressure. It fires like crazy so if you find the problem please let me know. Sorry I couldn't help but any thing I find out I tell you.