If you are sure you hear the fuel pump running, your problem is most likely an obstructed fuel filter after the pump, an obstructed in-tank stainer, or a kinked, leaking, or obstructed fuel line.

My experience is that with a dirty filter or strainer you get at least enough pressure to start the car. Then it gradually starts sputtering and eventually dies. With a carbed car you get more gradually diminishing performance if your filters are plugged, with injectors you get the sputtering and backfiring as the injectors drip, rather than spray, the fuel for lack of pressure. (I believe that's the sort of problem I'm having at the moment.)

Anyway, first of all, remove the fuel pump fuse (first in line on the driver's side inner fender) just to make sure the sound stays the same. Next, I would put some air pressure on the fuel line to see if that dislodges anything or if you hear a hissing sound. After that there's nothing for it but to lower the pump and filter assembly to see what's going on there. (Messy job. Lots of rust and dirt.) If the pump runs, but you get no fuel coming from the filter you've disconnected from the fuel line, I'd suspect the in-tank strainer. They're usually partially rotted away and often clogged in these cars, particularly after a good bump that has dislodged sediment in the tank. You'll need to drain as much fuel from the tank as you can and then unscrew the big plug in the bottom. The strainer lives above that. If that strainer is bad, your best bet is removing as much of it as you can and installing a filter in the line from the tank to the pump. Have fun. ;-)
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"62 PV544 (B20, M41), "71 142E, "93 240 Classic Wagon.