So yes, the bypass could be tied off and it should work as long as the ecu can then make sparks happen properly at very low (cranking) speeds. In fact this is how my own FAST setup is currently, since we've used the Bypass line for another output. And yes, the ecu sends out one EST pulse per firing event, so 3 pulses per rev on a v6. Next question, the polarity (and level and drive capability) of the EST signal would also have to be correct to work properly on the Buick application. If I recall, the Buick EST may be an active high signal to start the coil charge or dwell, then when it falls back low the spark happens. But this is opposite to how a generic "points" type trigger output would act, which goes active low to start the dwell, as in when the points would close to start charging the coil primary, then it lets go (back to high) for the spark, as in when the points would open. So there may be a polarity issue between the Holley spark trigger output and the Buick coil module EST input. If I recall, the F*rd TFI system fires the coil on the rise of the SPOUT (SPark OUT, their name for our EST signal). There are 2 versions of TFI module, an early one that does not use CCD (computer controlled dwell), and the later ones that do. I assume the Holley can probably handle CCD, but not sure.
TurboTR