86 Reliant gets fuel and sparks but no start?

[1p3bp]

So I installed new fuel pump, sending unit, vapor valve, tank, cleaned/blew out fuel lines, replaced fuel filter, cleaned fuel injector, and installed new pressure regulator but my Reliant still wont' start. It had been sitting up for about 15 years since being started now I'm thinking because maybe the previous owner couldn't figure out what was wrong so they just let it sit. It has only 48,000 miles on it. We replaced the cap and rotor tonight, cleaned the terminals on the plug wires because the store didn't have them. I replaced the spark plugs too. We verified the coil is firing and the wires are firing, the distributor rotor is turning. It is spraying fuel into the intake. So fuel, spark, it's got air because there's no reason it wouldn't. Before we cleaned the cables and installed a new cap/rotor the Power Loss Light or Oil Light didn't even illuminate when I turned the key. Now they do. I checked for codes which came up as 12 - Memory Standby Power Recently Lost which I thought maybe a result of changing the battery. That was it for codes. My friend who is the mechanic said it has spark but it's not a strong blue spark it's a white spark. What does that mean if anything? He said he noticed there was some probing done to the fusible link wires by a previous mechanic. I'm thinking that maybe they couldn't figure out what was wrong and gave up. What do I do next? Is it probably the Power Module? How do I verify?

[K-CAR_WAGON]

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[1p3bp]

I'm pleased to update that this weekend I got this Reliant up and running again for the first time in 11 years. It was last tagged in 2004. It still needed the new fuel tank, pump, sending unit, filter, hoses because the original was full of sandy rust. But after we replaced plugs, wires, coil, cap/rotor and checked timing belt and timing marks all it turned out to be was the fuel injector. It was dumping fuel putting out the spark. It was possibly just the lower o-ring was so worn out. I purchased an NOS fuel injector on EBAY we installed it and it fired right up. Although it seems the idle air valve and tps are worn out or sticking. It stored a 22 and 24 on the Power Loss Light. The idle levels out after only a few seconds to normal. It drives and has good power. I can't take it out on the road yet because it's not tagged and the tires are dry rotted. Some other things needed attention too. I had replaced the two headlights and it needs 1 reverse bulb. Also the wipers are totally gone. The bushings are history and the motor is fried, probably when we tried to turn it on. It did get a little on the hot side when we first started it up because the coolant was low so we didn't run it too long. Today I swapped out the thermostat and filled it with antifreeze and it's running right in the middle.