it turns over fine so it is not the starter. you said it try's to start. that would rule out the TIMING BELT. Pull the wires of the air bypass and see if that does anything. clean the air bypass see if that does anything. you said you have fuel. did you do a pressure test(88 are EFI right) pull the vacuum line of the fuel pressure regulater and see if it ihas fuel in it.

* as Jefferey said check your air filter and the intake makes sure nothing is blocking it.. on some of these ignition moduels you have to put all the screws back in becasue they act as grounds.

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2004 Ext Cab, 4WD, 4.0, Auto, 154k. (4.0 engine is out of a 2009 Ranger w/96k) ( as of 7/1/2017)

2004 Ranger, Ext Cab, 2WD, 3.0, 5 speed , 4WABS, crank windows, no cruise, Edge 116k.(6/5,2014) (SOLD).
1999 Ford Ranger, Reg Cab, 2.5, 5 speed, 2WD, no AC, 150k (SOLD).