I wouldn't be too hasty to pull the crank sensor just yet.
Its onlt a bar magnet with a coil of wire around it. Nothing much to go wrong with that.
Its more likely to be brittle wires due to the heat and age or oxidised terminals in the sensor connectors. Check the sensor first with a multimeter at the first connector which is in a bracket above the cam cover . If its open circuit its had it . The resistance should be as per clarks guide here.
http://www.clarks-garage.com/pdf-manual/ign-02.pdfClean the connector terminals and try cranking for a tach bounce. Its a very tiny bounce of the needle easily missed.
Next check the voltage on terminal 30 of the DME relay socket. It should be constantly live 12v+ even with the ignition off.
You have clearly got a fuel supply so I would look at the ignition amplifier first. It amplifies the pulse from the ECU .
Try substituting the DME relay with a 3x way bypass cable. Easy to make with 3x spade connectors and a bit of suitable wire like some 30 amp electrical cable.
Connect terminals 87 & 87b first then connect to terminal 30 (12v+) this should give you a continuously running fuel pump and a supply to the ECU . Try starting . If no start check for voltage at the ignition amplifier.