Do what seventhgear said, new plugs and wires is always a good thing.
The TPS sensor /can/ make it rev up and down like that. (it did with my 86 GXL) it's easy to adjust and there's a few writeups on how to do it online.
If it doesnt start it might be flooded.
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1986 Mazda RX7 GXL - "Champagne"
134.7 RWHP - Going slow in style