Ok, get your hands on a multimeter. You want one that can measure resistance (ohms - the symbol for this is a horseshoe looking thing: Ω). If you don't have one, they can be gotten for pretty decent prices, like, $20 or less.
Disconnect your battery positive and negative cables.
Now, go to your ASD and fuel pump relays, and remove them. There are four main items to the relay: the switched input (from the ignition switch), the ground (provided from the PCM or computer), the output, and the battery feed. The bottom of the relay will usually have numbers printed on it, next to its particular "blade". The numbers, and use, are as follows: 30 battery feed; 85 ground [from PCM]; 86 from ignition; 87 output; 87A [don't worry about].

ASD Relay
Find the cavity that corrilates to 30 (battery feed). Do a resistance test between that point and the positive battery cable (remember, with battery disconnected!!). Record results.
Now, turn the key to the ON position (like the engine is running). Now check resistance from cavity 86 (from ignition) to the battery positive cable. Record results.
Now, turn the key back off. Check resistance from cavity 87 (output) to the ignition coil connector. This is a 2-wire connector. If one wire doesn't work, try another. Record results.
Now, disconnect the connector from your computer (passenger side inner fender). Test resistance from cavity 85 to pin 51 of the computer. Record results.

Fuel Pump relay:
The same steps apply, but the only differance is: the only output (cavity 87) of the fuel pump relay is to the fuel pump, so, I won't tell you to do that.

Check resistance between battery positive cable and computer pin 3. This is the direct battery feed.
With the key ON, check resistance between computer pin 9 and the battery positive cable. (this tells the computer the key is ON)

Now, reconnect any connectors you may have disconnected. Double check. Make sure they key is OFF. Now reconnect the battery, and post the resistance you found in each circuit.
It might sound funny that I'm asking you to do this, but just do it.

 

sounds like a plan. I'll check around and see if any of my local buddies have a multimeter.

I'm in the indianapolis area if any of you guys are local!

 

cold start valve

 

sounds like a timing chain on the clicking part

 

I disagree on that... read the following quote:

Its odd that it will work fine if they keep the key ON for about 10 minutes and than start it up.

 

Ok... for the last two days, the truck would not start at all.

This morning, I left the key in the "on" position for an hour and a half, went out to leave, and nothing.

I'm starting a new job on Tuesday where I will not be getting off work until 2AM, so I can't afford to sit in the lot until 4AM when I have to be at my other job at 11AM.

Cash is so tight right now, I can't spare $20 for a multimeter and can't find anyone local who has one. I can't even afford to have it looked at. I'm having a friend take me to work, not sure how I'm going to get home at 2AM, but I'll work on that at a later date!

The only other thing worth mentioning is that it has been COLD here the last two nights, and I've tried to start the truck from 8:30AM-10:45AM with no luck. However, yesterday, when I got home at 3:15 (it was slightly warmer) I left the key in the "on" position (didn't even try to crank it) for an hour, and when I went back out, it fired right up.

This is frustrating the hell outta me!!

 

ignition relay would be my guess.the relay isn't sending a signal to the fuel pump until it gets warm I had a car do that once different make but the principal is the same

 

Try this:
test for spark off the wire going from the ignition coil to the distributor. If that checks ok (it should be a good, steady arc).
If that tests good, take a GOOD look at the distributor cap, distibutor rotor (under the cap), and all the spark plug wires.
The distributor cap should be clean (i.e. no carbon buildup either on the cap or on the metal tips the spark plugs "snap" onto, both on top and on the underside of the cap), have no cracks, and when tightend down be firmly seated and secure. The rotor should be clean as well, and should look like it will make good contact with the underside of the distributor cap (i.e. good tension on the tab. NOTE: some dielectic grease may have been applied at the end of the rotors metal tip and may appear to be charred, but its normal).
Also look for evidenace of corrosion. Sometimes water can get into the distributor cap and cause problems.

 

I'm going to show my noob skills off here.

How do I go about checking for spark?

There's no such thing as a stupid question, you've gotta learn somehow.

 

Disconnect the spark plug of your choice. Than, have somoeone momentairily crank the engine while you hold spark plug of your choice about 1/2 inch above a good ground (the motor block works great).
The cable going from the ignition coil to the distributor should produce a good steady spark. Than, disconnect a a cable from a spark plug, and do the same test.