Well I got lucky last season, but not so much this season... same symptoms. Next item to check is fuel pressure as mentioned in last year's portion of the thread.
'97 Marine Power 5.7L MPFI - pre-Vortec
Turn on key and can hear both fuel pumps run to pressure & auto shut-off
Turn key to start, engine immediately starts then dies
After it dies I can hear both pumps run to pressure and auto shut-off as if the key had just been cycled again.
Seems like some sensor is getting a fault and shutting everything down.
Troubleshooting thus far:
-Brand new battery & fully charged
-Remove fuel fill cap to bypass vent = no change
-Use multi-meter & get 11.5v at alternator purple wire before it starts, meter climbs to 12.8 after start just before it dies = alternator working.
-Kill switch disables fuel pump circuit completely when lanyard is removed so I don't suspect that.
Additional troubleshooting to be done:
-Check rail fuel pressure - not seeing a schrader valve for an easy plug-in

.
-Check on/for faulty IAC (idle air control) sensor
-tbd....