Could it be a key switch problem?
Ya know I don't think so. The ignition key doesn't have a direct tie-in to the lift pump. The ECM receives power when you turn the ignition on and it controls the lift pump's operation via its internal programming.
You may already know this, but it's worth mentioning that the ECM is programmed to only operate the lift pump for 2 seconds when the ignition key is first turned on before the starter is engaged. Per the Dodge service manual, this behavior is to prevent too much fuel pressure at the VP44 inlet before starting. This 2 second burst from the lift pump will normally result in only a brief pressure spike on a fuel pressure gauge and the pressure doesn't normally hold (at least on my truck it never does). When the starter is engaged, the lift pump is supposed to operate continuously for up to 25 seconds while cranking.
With that many miles, I'm wondering if your VP44 could simply be worn enough internally to need the higher inlet pressure to help create enough injection pressure to actually force the injectors to open? Remember, the VP44 is turning relatively slowly during cranking and if worn, I could imagine it having trouble building adequate injection pressure to operate the injectors properly.
I think if it were my truck at this point I'd do the following...
1. Verify you don't have any stored TDC's with a code scanner.
2. Verify the fuel pressure behavior at the VP44 inlet by using a fuel pressure test gauge if you can't trust your current fuel pressure gauge 100%. You want to positively rule out the lift pump as being the source of the problem.
3. If there's any doubt about when the lift pump is operating, also verify it's indeed receiving power when it's supposed to (2 seconds when turning the ignition key on and approx. 25 seconds when the starter is bumped). This will rule out that the ECM is acting up.
If all of the above check out, then you're pretty much closing in on the VP44 as being the culprit and it's probably time to start shopping for a rebuilt unit.
Best regards,
John L.