Thanks for your post Laxman /rick. The Pickup was having a hard time starting today and I stopped trying to start it so I could check for moisture as you indicated. I wanted to find out just what the problem is, so I have decided to change one component at a time. Realizing that just moving the other components might correct a problem inadvertently.
I set out to change out the distributor cap first. In so doing, I rubbed the heater water line directly above it were it comes out of the water jacket of the engine. I felt a little drop of water. Looked at it with a mirror and could tell that a very very very small leak was making it moist in that area, the bottom side of the threads going into the water jacket. It just happens to be directly above the coil wire on the distributor cap. Looking into the coil wire I could see it was corroded and had the slightest bit of moisture on it. A drop must have formed and dripped on it earlier in the night because it defiantly wasn't wet now.
The cap was in great shape. Almost no deposits but a little dirty on the outside. The rotor looked almost new. No sign of wear at all, no deposits, and no sign of arcing.
I have cleaned up the coil wire connection, added boot sealant/lubricant and will work on the heater water hose leak today.
If I still have trouble, I will start replacing all the items you mentioned. (it's going to rain this weekend)!
Thanks for taking the time to point me in the right direction.
RCWeston