don't know if this is the issue... Are you guys powering the HEI distributor off the coil wire of the toyota wiring harness? Read somewhere that you need a relay and heavier guage wire, as the HEI distributor draws more amps. (don't know how accurate this is).
It sounds like a wiring problem as I don't recall vapor lock acting like the engine just shuts off dead cold.
First things first.... I would want to know if I had spark at the plug wires when this happened when you try to crank it.
Got to know if its fuel or spark issue?
HEI's are power hogs. The OE power supply wire is either a 12 or a 10 gauge wire. Using the original Toyota ignition wire to drive a relay switching a large gauge power wire right off the battery is an Excellent idea. I'd do that regardless of where the problem turns out to be. Consider a breaker or something in the wire at the battery just in case.
I can't imagine how a vapor lock problem would be such a sudden stop. There is fuel in the fuel bowl, that means that it should shudder to a stop ala typical vapor lock. Only with EFI can I think of a situation where loss of fuel could be an instant shut-down. It's possible that it is fuel, but I'd make certain that the ignition is behaving absolutely without fault first.
I had that instant shut-down happen to me once in my '79 Suburban. Bombing down the road into El Arco, Baja and suddenly nothing! Turned out that the power feed wire terminal had lost it's retaining clip and had vibrated off. Hooking it back up restored engine function. 37 T&B zip-ties insured that it would not vibrate off again.
As has been noted, the Heat Sink grease is crucial to the survival of the module, but it sounds like that's been well taken care of.
A note about modules, years ago MISF & I did a test on two different modules. His '69 Pontiac Le Mans had a
Davis Dyna-Mod module in it. His mom's car was a mid-ish 80's Hurst Olds with an OE module in it. We did a dwell vs. RPM test on both of them.
Both idled at 45* dwell, but the OE module rapidly lost dwell angle as the RPM increased. Was down to around 25*-30* as high as we dared free-wheel that engine (been several years since that test, memory fades....). The Davis module in the Pontiac had 45* as high as we dared go with the Pontiac's engine. I am pretty sure that this is why the HEI has a rep for falling on it's face btwn 4500 and 5000 rpms. I've been in that Pontiac at a 5000 rpm shift to second (with a 2.79 axle ratio & ~26" tall tires that's really moving......... ). We could feel the cam running out of omph, but the ignition was still strong.
A possible option would be to go to one of the aftermarket ignition boxes. I would highly suggest a Marine version if you do. I'm biased towards Crane, but both
Crane &
MSD boxes can be driven directly by the magnetic pick-up in the distributor (eliminating the stock module). Both also offer a kit to move the coil out of the cap as well. The advantage to both of these options is heat rejection; though I'm not convinced that the aftermarket parts are as reliable as OE quality stock parts (MTBF). Still, those two names both have good reputations. MISF eventually replaced the Davis module with an MSD system in a search for more power. He didn't find much there.