I have an 88 Transam 350 TPI
These are the pats that I changed:
EGR valve, EGR selenoid, #22 fuel injectors, cold start valve (rebuilt by cruzzin prformance), intake gaskets and sealers, new battery, intake manifold sensor. I also replaced the valve steam seals and adjusted the rocker arms according to manual specs. I tightened the nuts untill the push rod barely turned. I then turned it another half revolution. I then tried to turn the car on, the engine rotated, but it didn't fire up. I checked the spark plug wire routing and they were corret. Spark plug #1 had a spark. I thought I had put the distributor on backwards, but it was fine. I rotated the engine manualy and, with my finger on #1 hole; I could barely fell the air pressure. I believed that the air pressure would be powerful enough to push my finger out, but it was very faint. I checked the spark plugs and they were soaked with gas. With the above sypmtomes, could it be that the rocker arms are adjusted wrong. What other problem(s) could there be?

 

Your rockers are to tight and keeping the valves of there seats. More than likely your lifters pumped down before ya adjusted te valves. Back each one of 2 turns and she should start up for ya. I always hot lash my valves myself as it seems that the lifters always pump down during install.

 

what he said.