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I have an 1989 ford f150 with a built 302 it will start right up and run it idles a little high and smells rich. But once you shut it off and try to start it back up it will not start sometimes but once and awhile it will start only when you put the pedal all the way to the floor. But it kinda sputters at the first then starts idling fine once the system is cleared out. But other times it will not turn over at all.
By "other times it will not turn over at all" do you mean it won't even crank over, or it cranks but won't start?
Based on the symptoms I would guess you have a ruptured fuel pressure regulator. Fuel pressure in the system bleeds off through the vacuum line and floods the engine. Try disconnecting the vacuum line at the regulator (should be a red line) after shutting the engine off and watch for fuel leaking from the vacuum port; there should not be any fuel present at that connection.
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