Thanks Alfons. However I'd hate to start a new thread at this point. There's a lot of really good information here for someone having the same issues.
FYI, I rebuilt the engine before swapping it into my CJ. I have a fear that my "Chevy" buddy might have installed the timing chain incorrectly.
The way I have it set right now, it starts and runs pretty smooth. But even the slightest movement of the distributor will disturb this and it won't run.
I am beginning to think you guys are right about the TPS causing the hesitation. I'm going to test it tomorrow before I go get another one, but for $30 I can deal with replacing it if it fixes the problem.
I have good pressure at the rail at start-up, idle, and with throttle. The fuel pump is a brand new Ford 2100 pump.
I would go back to the first page of this thread and look closely at the distributor placement and timing procedure. That's what I did and it has worked for me. I wouldn't rely on the timing marks and/or timing light if your distributor or timing chain could be off or installed incorrectly.