If it were me I would rule out the Theftlock system. I have a 2004 Grand Am, and have the Theftlock issues (very common problem - GM should have done a recall). The issue is (as I was told by the dealer): There is a faulty plastic pin on the back side of the key cylinder that activates/deactivates the Theftlock switch in the module that is behind the cylinder. It is an intermittent problem, and will show up whenever. In order to clear this error, you must leave the key in the "Run/On" position for ten minutes (Until the SECURITY light stops flashing), and then return the key to the "Off" position. Then you will be able to start the vehicle.
Since your vehicle does crank, however, I'm 99% sure you can rule out the Theftlock system. Everything I have read and have been told by the dealer, the engine will not crank at all with this issue - you will have full power to everything, but the motor will not turn whatsoever.
If it were me, I would suspect the fuel pressure regulator or fuel filter (or possibly an intermittent issue with the fuel pump). Sometimes, fuel pumps are funny. When they are going bad they will sometimes work fine for a while, then all of a sudden one day - nothing. Or like on my Taurus it would build up enough pressure to get the car to fire but not run. If you used ether it would keep it running long enough for the pump to build pressure in the line enough to keep it running. You just never knew.
I would say it is the fuel system, somewhere.. Not the Theftlock.
Oh, and by the way... The Theftlock system fix - $60 key cylinder and module on Amazon... But you have to have the dealer reprogram the computer on the car. I was quoted $6-$800 for the work. For that price, I'll wait the unpredictable ten minutes on occasion.
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