Take fuel rail out with injectors. See which injectors are firing and which aren't. It would be good to see what kinda pressure the fuel rail is holding. I also have a spare fuel rail and regulator kicking around if rail turns out being te problem
Stop buying bits for it, and get a compression tester.
Test it wet and dry and give the results.
What cylinder is it running on? Remove plug leads til it makes it run worse?
A test light has no way of testing pulse. You really need a duty cycle tester on a multi meter. But if the light is illuminated when you crank engine I would suggest you have a pulse.
With a multimeter, you will get 5v at 100% duty, 2.5v at 50% duty. Etc.