1989 Ford F350 Engine won't start

I just purchased a 1989 F350 w/460 ci EFI V8. When I test drove it the engine ran rough and I anticipated some minor tune up required. However, in the recent cold weather, it won't start at all, it does fire but won't start and run. Since I don't know the full history of this vehicle it's hard to know what's been done to it. It's getting fuel and spark, the plugs are wet, there's not any slop in the timing chain and static timing is on the money. It has a new air filter, the plugs don't look worn out. I don't see any loose vacumn lines or electrical connections on the motor.

Strong battery cranks the engine fast but I don't want to use a starting fluid for fear of washing lubrication off the clyinder walls. I'm more familiar with the Bosche fuel injection systems, does Ford use an enrichment injector for cold weather or just keep the injectors open longer in cold start mode?