Maybe someone out there has the answer to my dilema or at least somewhere to start the search. I have an '82 242 that, when cranked, does great until the starter circuit disengages. If held in start position...ugh, it keeps going but dies when the key is released. The fuel pumps run when the relay is jumped. The in tank pump is new and the other seems to be putting out fine. I don't know where the power is dropping out when the key is released. Hopefully, with your collective knowledge, I can put this irritation behind me. Thanks in advance!

/// You can bypass the ignition switch by pulling the socket off the switch and jumping the positions with solid copper wire the size of the pins on the switch. Short positive to run then briefly touch the start jumper to the positive position. Careful the starter is immediately engaged. If the fault is the switch the car will run hotwired. There are two screws holding the switch on the lock. The socket is center keyed so you cannot put it back on wrong even if you cannot see it.

In the "good ole days" that pointed to a ballast resistor failure. When you cranked the starter, you got full 12v power to the ignition. When you released the key to the run position, the juice had to flow through the ballast resistor, which cut it down to about 9v to put less wear and tear on the ignition system. It seems that someone told me that at least some of the bricks had the same sort of thing. Check a schematic to see if you've got one.

It could also be an ignition switch problem.

I had the same problem. There are two relays controlling the feul pump. One runs the pump while cranking and the other keeps it running as long as it senses the engine is running. These relays are under the dash on the right side. They are the same. Try swapping them and see what happpens.