I would just buy a stock replacement cap and rotor,if you are wanting to do it cheap,but it I would try the spark module first.then do plug and wires and work back to the opti.

so I thought I could posibly have the rotor on 180 degrees off so that its not on the compression stroke, but figured I'd get coil spark even if that were the case, am I correct in that?

Could a bad cap and rotor cause a no spark situation, or is the ICM very suspect at this point?

so right now I'm going to pick up and Ignition Control Module for the car. If it doesn't spak with that I am considering taking the ICM and Coil down to Autozone to get them tested.

I looked at the Opti plate and it is keyed to go on one way only, so I have no fear it is on correctly.

i would try it,i had problems with mine once did the samething

6-28-06 findings
 

So far I have replaced the Optispark, but kept the old cap and rotor. I have no spark at Coil or spark plug. I also bought a new waterpump while all was apart, have no idea how old this one is, and the weep hole looked like it might have suffered a drip or to in the past.

So I pulled the coil and ICM and took them to autozone for testing. They plugged the ICM into a box that ran like 6-8 tests (idiot lights), it plowed right thru them one after another, all green. ICM is good according to them. Then they pull out a multi meter to test the coil in accordance with their book instructions. Testing Ohms, they come up with an odd reading from coil post to plug in part, so I have them pull a new coil off the shelf and sure enough the reading is different from the new coils.

Do coils generally fail on these cars? I thought they were pretty hardy items, and there's not a lot to them to fail. Anyway, I'm gonna hook it up and see if I have fire. God I hope so, I don't want to mess with the PCM, also there was a tad bit of corrosion/dirt on the connectors to the ICM and coil, I will clean that up before resassembly.

I'm going to put new plug wires on while I have it so far apart, where's the best place to get the 8.5mm wires? Summit, or my local autozone/napa/checker.

Any thoughts or advise would be greatly appreciated.

Summit or Jegs will be cheaper than a local parts store.I think I would just put it together and see it runs,I have never been big on auto parts store's testing methods

I agree, the guy definitely seemed unsure of himself. I tested them side by side myself, and the new coil definitely gives different readings than the old coil, so I'm keeping my fingers crossed that that was it.

update, car runs
 

I replaced the coil and my LT1 fired upt and sounded pretty good. I had a bit of stumble and some tail pipe backfire, but I will put all new wires on it and hopefully drive it tomorrow. Might have just been a $17 coil all along. More to follow.