Join Date: Jan 2010
Location: Clintonville, WI
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Sounds to me like the CPS (Cam Position Sensor) went out. This is a common problem with these trucks. Watch the tach when you crank it over, if it doesn't move, the CPS is bad. It is very easy to replace and costs ~$20.
For $1000 it sounds like it is definitely worth picking up.
1996 F350 Crew Cab Long Box
7.3L Powerstroke, E4OD Auto
Banks Intercooler, Banks Quick-Spool Turbo, NAPA 6637 Air Filter, 4" Diamond Eye SS Turbo back exhaust
Bumper Dude Front and Rear replacement Bumpers
Future Mods: PHP FU chip, Gauges