I'm pretty sure that the 8.65v (as measured at the crank sensor?) is too low; was that measured with the sensor in-circuit? If not, the voltage might be even lower when it's in-circuit. Pick the low-hanging fruit before condemning modules.
Is there 12v at the PCM circuit (under load) and, if so, the 12v feed to the crank sensor may be compromised. You could verify wire integrity by using a test light that draws some current, and could also test it for a partial short to ground.
Circuit shown here:
Detailed repair manual for the 2004 GMC Yukon/Denali 2WD V8-5.3L VIN T.
charm.li