Keeps stalling

I am having problems with my car stalling. When I try to start it up, it will hold idle for a few seconds, then stall. When I tried to start it this morning, I smelled something burning for a minute. Like burnt wire or something. I tried starting it again a few times with no luck but did not smell the burning anymore. My dad said he saw a little white smoke coming from the engine compartment the first time I tried to start it when I smelled the burning. I let him try to start it and watched the engine bay but didn't see any smoke or smell something. He finally got it running or a few minutes and was able to move it (though it stalled when he first tried). On Sunday it snowed here and I had to jump the car to move it and snow got into the engine compartment (I know, I was sick about it for hours). I am thinking something might have gotten messed up or wet. However, the only thing that I think would create a problem like this is a wet distributor, but I have the boot on it. Possibly the ignition got wet too, because that is not protected. Although if something is wet, it has had three days to dry. The only areas that I could think of are fuel, air, and spark. Fuel pressure is fine and I don't think air is a problem here. What do you guys think? Thanks.

There is a picture of the engine compartment on my homepage.

http://www.geocities.com/jjanik2002/1989mustanglx.html