So, more bad news to begin with. I replaced some stuff today. First off all of the belts since they had seen some serious wear. Then replaced the rotor and the hall effect sensor. The latter was a Standard Motor Products LX127. According to information I found it replaces chrysler part numbers 4289746, 4379443 and 4379488. Since the hall effect I originally had was stamped with 4289741 but I found no equivalent I went with this one - it was the best match in numbers and upon assembly looked almost exactly like the one I already had.
Went ahead and fired up the engine - I could see the distributor cap wiggling. Turned it off quick as hell and kind of think I must've not seated the rotor correctly, so the little "metallic wing" on top was severly twisted.
I then replaced the old one and made sure it was really seated and tried again:
Engine would turn but not start whatsoever. Since it was starting before I replaced the stuff today I suspect that the LX127 does not replace the original hall effect sensor I had. Would this disable the engine from starting altogether? Is there any way I can confirm if the new hall effect is working or applicable on my 1989 Dodge?
With this in mind - I really need your help. What would be my further steps of troubleshooting? Should I put the old hall effect sensor back? I'm kind of lost now.
To answer landyacht318: No, I have not checked the connectors at the SMEC yet. Will do for sure. Is the wire for the SMEC ground bolted onto the intake manifold with the same bolt as the coil? If so I will give it a good cleaning.
I THINK my main problem is the SMEC. Question is if I made it worse by replacing to an incorrect hall effect sensor. I'm starting to feel a bit down because of the fact that nothing I do seem to help. :/ Thank you all for your help though!!