Engine won't stay running

My lil red express hasn't ran in about 2 years, I went out got fresh gas, it cranks and fires when I hold it in the start position, but as soon as I turn the key back to the run position, it shuts off. I checked the timing, checked all the terminals at the ignition switch with key in run and off position, I have a full msd ignition system on it so it's not anything like a ballast resistor or anything. I'm thinking maybe starter relay? Anyone have any thoughts? Thanks for any help

There is something wrong with the "run" circuit. The starter relay should not have any effect on the ignition functioning once you let off the key and it returns to the "run" position. I would imagine that you have a problem with with either the ignition switch, bulkhead connector, or the splice where the "start" and "run" circuits meet.

Any idea where the splice would be?

bad ballast resistor, whoops I didnt read far enough before I replied.

I have a msd ignition system, so it's not the ballast resistor

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Any idea where the splice would be?

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You will most likely have to follow the wires from the MSD and figure out where the "ign" power is coming from that feeds the MSD. It could be anywhere along the firewall.