Does sound like an electrical problem. Is this electronic ignition or points?
Either way, sounds like it's loosing spark when the starter is released. Could be the ignition resistor, (wire or ballast), ignition switch, or wiring problem.
Could also be weak spark delivery, as in worn plugs, bad wires, dist cap or rotor.
Where is the electric pump wired in? If it's connected to the coil, try moving it to another 12v source. It will draw down the voltage to the coil if it uses a resistor and deprive the pump of full voltage.
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Today's Featured Article - Engine Valves - Some Helpful Information - by Staff. Intake - On the intake stroke the piston moves doward, sucking in carburized fuel through the open intake valve. Exhaust valve is closed. Compression - With both the intake and exhaust valves closed, the pistons upward stroke compresses or squeezes the fuel into the combustion chamber. Firing - Ignited by the spark, the compressed fuel explodes and forces the piston downward on its power stroke. Intake and exhaust valves are closed. Exhaust valves and seats are exp
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