Please explain "start" circuit to me

Gentlemen, at this point, I am completely bumfuzzled.
Aaron and I checked various wires for good connections, cleaned and re-seated the bulkhead connectors, checked vacuum lines, and it still would not fire. We disconnected the interlock switch, and still no go. We put the key in "run" position and cranked the engine by crossing the battery terminals (to by-pass the ignition switch, just in case). We swapped out a new ECU and a new coil. Nothing made a difference.

Then, we noticed that releasing the key from the "start" position to return to the "run" position would cause a slight backfire through the carb. That indicated there was that moment where a single spark occurred as voltage surged through the "run" circuit. Hmmmmm.....

We changed the *&$%_@+~ ballast resistor and it popped right off. Purrs like a kitten. What the heck????

I can't count the number of times I have read and been told, "If the ballast resistor goes bad, the car will start, but will then stall and die when the key is released." That appears to be an old wife's tale. This car would not start at all, period, with a bad ballast resistor. We swapped the old coil and ECU back in, just to minimize the variables. It fired up on the first turn of the starter.

In the morning, we will see...

Thanks to all for your input,
Jerry