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The gray wire is the sense coming from the negative side of the ignition coil. Using a voltmeter see if there is voltage on this wire when the engine is running. There is a cylinder select on the back of the tach, try moving it back and forth a few times to see if this helps. It's a know issue for bouncy tachs.
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1997 Silverton 362, 7.4 Crusaders
1997 2400 SCR, 5.7 Vortec / Bravo 2
Mike
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