Learned how the TB IV and V systems work, very simple and easy to understand. Seems like a great system if you don't have an idiot (like me) working on it (lol). Blown pickup is 95% the culprit, which makes sense since I'm sure the spark from the coil found it's way to ground through that sensor... inside of the dizzy looked terrible, and had to break the rotor to get it off. So all new cap rotor and sensor. Get her fired up then I'm going to rebuild the carb, seems like the most logical thing to so since it quickly filled up a sandwich bag with gas while cranking for less than 10 seconds. Thanks for your input everyone, I'm loving these forums!!