I recently purchased a 1997 C2500 5.7 last month. Got it cheap becasue the PO gave up trying to solve a cranks/but no start problem. The problem was random - truck would start several days in a row, then it wouldn't. Come back to fault isolate the problem and it would start right up. Rinse and repeat. Never knew when it might start or not start.
After removing the dist. cap & rotor for a visual inspection; decided to disconnect, inspect and test the cam position sensor (back of the distributor). It's a three pin connector. I found white powdery corrosion on the pin for the pink wire. Used electrical contact cleaner on the male and female sides of the cam sensor electrical connector. I have 100% successful starting over the past 10 days.