Step, when you say "A properly operating time-delay module will theoretically delay engagement of the starter long enough for the above-described buffoonery particular to these engines to run its course", I think you misunderstand the reasoning behind the time delay.
If _properly_ installed and wired, it does not delay the starter, it delays the power to the ignition circuit until the starter has 0.5 seconds to engage to get the motor turning in the proper direction.
I think the difference between the 4.3GM problem and the original posters FE has to do with how much raw compression the motor has. With the 4.3 gm, the high compression means the cylinder stops before TDC (and so turns backwards), and this guys FE has so little compression, it stops at or slightly after TDC (and so turns forward and starts).
I have only seen this on trucks that the pickup (Igniter) in the distributor had no heat-sink grease on the bottom and had failed to the point of intermittent shut off, but that may be because no one cared about the restart until the igniter went bad, or just a coincidence for all I know.
A correct repair would be a motor rebuild, but I would expect the time delay to be a reasonable fix, but I would also consider this a 'non-problem' for this young of a truck, why not just wait a minute between turning the key on and off?