Don't think leaving the ignition key in the "on" position will result in the fuel pump running continously. As I recal, the pump will come on for about 2 sec when the key is first turned on, then go off unless you are either cranking or the engine is running. This is because the ECM controls the pump via the fuel pump relay. So a failed ignition sw won't cause your problem; however, as I recall, the ignition sw places Batt (12V) on all of the relays' control windings, then the ECM places a ground on the selected relay, such as the fuel pump, O2 heater, Etc., causing it to energise. On the '88 Cherokee, Batt is always on one side of the fuel pump relay--ign key has no affect on this! My bet is on a fuel pump relay that is stuck in the "on" position. Pull the relay and see what happens.