I'll run the diagnostic this afternoon. In the meantime- should the tack jump around when cranking? If the tach doesn't move isn't that a symptom of a fautly RPM/Crank position sensor?

Tach should not "jump around" but will rythmically knudge up a bit while cranking. If it does not then you will have no spark. The tach signal is tapped off at the coil negative terminal.
If no tach while cranking most likely causes would be crank position sensor or power stage.
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David Hunter

What model Volvo do you have? If it is a 700 or 900, what ignition-injection system do you have? The Bosch system uses the familiar Air Mass Meter on the intake and the coil is a tubular coil like most others. The Rex-Regina (Bendix) system has a temperature probe and manifold pressure sensor instead of the AMM. The coil and power stage are combined in a rather blocky looking thing on the left fender. I believe the FAQs say that the tach in the Bendix system does not jump when cranking.

It is a 92 740 Turbo it has the bosche coil and I think is the EzK. I tried looking in the FAQ since that is where I read it but for some reason couldn't re-find that blurb.

I suspect it is the LH Jetronic 2.4 or later. My '91 Turbo with the Bosch ignition/intake system is LH 2.4.
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Darius in Albany NY '86 744 GLE (172K); '91 745T (161K)