Looking at the code dump, it seems like you have fuel pump electrical problems. The pump itself may be OK, but it is losing power. The fuel pump relay and the socket wiring are suspect.
Code 18 - SPOUT out or wiring fault - look for short to ground in SPOUT wiring going back to the computer. Possible bad TFI.
The SPOUT enables the distributor to advance the timing beyond the base setting. Without a working SPOUT, you are locked down to the timing you set with the timing light.
Code 66 MAF below minimum test voltage.
Insufficient or no voltage from MAF. Dirty MAF element, bad MAF, bad MAF wiring, missing power to MAF. Check for missing +12 volts on this circuit. Check the two links for a wiring diagram to help you find the red wire for computer power relay switched +12 volts. Check for 12 volts between the red and black wires on the MAF heater (usually pins A & B). while the connector is plugged into the MAF. This may require the use of a couple of safety pins to probe the MAF connector from the back side of it.
There are three parts in a MAF: the heater, the sensor element and the amplifier. The heater heats the MAF sensor element causing the resistance to increase. The amplifier buffers the MAF output signal and has a resistor that is laser trimmed to provide an output range compatible with the computer's load tables.
The MAF element is secured by 2 screws & has 1 wiring connector. To clean the element, remove it from the MAF housing and spray it down with electronic parts cleaner or non-inflammable brake parts cleaner (same stuff in a bigger can and cheaper too).
Changes in RPM causes the airflow to increase or decease, changing the voltage output.. The increase of air across the MAF sensor element causes it to cool, allowing more voltage to pass and telling the computer to increase the fuel flow. A decrease in airflow causes the MAF sensor element to get warmer, decreasing the voltage and reducing the fuel flow. Measure the MAF output at pins C & D on the MAF connector (dark blue/orange and tan/light blue) or at pins 50 & 9 on the computer. Be sure to measure the sensor output by measuring across the pins and not between the pins and ground.
At idle = approximately .6 volt
20 MPH = approximately 1.10 volt
40 MPH = approximately 1.70 volt
60 MPH = approximately 2.10 volt
Check the resistance of the MAF signal wiring. Pin D on the MAF and pin 50 on the computer (dark blue/orange wire) should be less than 2 ohms. Pin C on the MAF and pin 9 on the computer (tan/light blue wire) should be less than 2 ohms.
There should be a minimum of 10K ohms between either pin C or D on the MAF wiring connector and ground. Make your measurement with the MAF disconnected from the wiring harness.
See the following website for some help from Tmoss (diagram designer) & Stang&2Birds (website host) for help on 88-95 wiring
Mustang FAQ - Engine Information
Ignition switch wiring
http://www.veryuseful.com/mustang/tech/engine/images/IgnitionSwitchWiring.gif
Fuel pump, alternator, ignition & A/C wiring
http://www.veryuseful.com/mustang/tech/engine/images/fuel-alt-links-ign-ac.gif
Computer,. actuator & sensor wiring
http://www.veryuseful.com/mustang/tech/engine/images/88-91_5.0_EEC_Wiring_Diagram.gif
Fuse panel layout
http://www.veryuseful.com/mustang/tech/engine/images/MustangFuseBox.gif
Vacuum routing
http://www.veryuseful.com/mustang/tech/engine/images/mustangFoxFordVacuumDiagram.jpg
Code 87 – fuel pump primary circuit failure. The fuel pump lost power while the engine was running. Check fuel pump relay, check inertia switch, wiring to/from inertia switch, red wire going to inertia switch for +12volts. Check the other side of inertia switch for +12 volts.
To help troubleshoot the 87 code, follow this link for a wiring diagram.
For 89-93 cars use,
http://www.autozone.com/servlet/UiB..._us/0900823d/80/19/59/5a/0900823d8019595a.jsp
For 86-88 cars use,
http://www.autozone.com/servlet/UiB..._us/0900823d/80/16/71/3c/0900823d8016713c.jsp
Code 41 or 91 - O2 indicates system lean. Look for a vacuum leak or failing O2 sensor.
Code 41 is a RH side sensor,
Code 91 is the LH side sensor.
The computer sees a lean mixture signal coming from the O2 sensors and tries to compensate by adding more fuel. Many times the end result is an engine that runs pig rich and stinks of unburned fuel.
The following is a Quote from Charles O. Probst, Ford fuel Injection & Electronic Engine control:
"When the mixture is lean, the exhaust gas has oxygen, about the same amount as the ambient air. So the sensor will generate less than 400 Millivolts. Remember lean = less voltage.
When the mixture is rich, there's less oxygen in the exhaust than in the ambient air , so voltage is generated between the two sides of the tip. The voltage is greater than 600 millivolts. Remember rich = more voltage.
Here's a tip: the newer the sensor, the more the voltage changes, swinging from as low as 0.1 volt to as much as 0.9 volt. As an oxygen sensor ages, the voltage changes get smaller and slower - the voltage change lags behind the change in exhaust gas oxygen.
Because the oxygen sensor generates its own voltage, never apply voltage and never measure resistance of the sensor circuit. To measure voltage signals, use an analog voltmeter with a high input impedance, at least 10 megohms. Remember, a digital voltmeter will average a changing voltage." End Quote
Testing the O2 sensors
Measuring the O2 sensor voltage at the computer will give you a good idea of how well they are working. You'll have to pull the passenger side kick panel off to gain access to the computer connector. Remove the plastic wiring cover to get to the back side of the wiring. Use a safety pin or paper clip to probe the connections from the rear. The computer pins are 29 (LH O2 with a dark green/pink wire) and 43 (RH O2 with a dark blue/pink wire). Use the ground next to the computer to ground the voltmeter. The O2 sensor voltage should switch between .2-.9 volt at idle.
Note that all resistance tests must be done with power off. Measuring resistance with a circuit powered on will give false readings and possibly damage the meter. Do not attempt to measure the resistance of the O2 sensors, it may damage them.
Testing the O2 sensor wiring harness
Most of the common multimeters have a resistance scale. Be sure the O2 sensors are disconnected and measure the resistance from the O2 sensor body harness to the pins on the computer.
The O2 sensor ground (orange wire with a ring terminal on it) is in the wiring harness for the fuel injection wiring. I grounded mine to one of the intake manifold bolts
Replace the O2 sensors in pairs if replacement is indicated. If one is weak or bad, the other one probably isn't far behind.
If you get only code 41 and have changed the sensor, look for vacuum leaks. This is especially true if you are having idle problems. The small plastic tubing is very brittle after many years of the heating it receives. Replace the tubing and check the PVC and the hoses connected to it.
A secondary problem with only a code 41 is for cars with an intact smog pump and cats. If the tube on the back of the heads clogs up the driver’s side, all the air from the smog pump gets dumped into one side. This excess air upsets the O2 sensor calibration and can set a false code 41. The cure is to remove the crossover tube and thoroughly clean the insides to that there is no carbon blocking the free flow of air to both heads.
Code 96 causes & tests 91-93 models. – KOEO- Fuel pump monitor circuit shows no power - Fuel pump relay or battery power feed was open - Power / Fuel Pump Circuits. The fuel pump circuit lost power at one time or another.
Look for a failing fuel pump relay, bad connections or broken wiring. The fuel pump relay is located under the Mass Air Meter on Fox bodied stangs built after 91. On earlier model cars is under the passenger seat. On Mass Air Conversions, the signal lead that tells the computer that the fuel pump has power may not have been wired correctly. See
MAF - Mustang Mass Air Conversion - StangNet - The Mustang Network
Look for power at the fuel pump - the fuel pump has a connector at the rear of the car with a pink/black wire and a black wire that goes to the fuel pump. The pink/black wire should be hot when the test connector is jumpered to the test position. To trick the fuel pump into running, find the ECC test connector and jump the connector in the lower RH corner to ground. No voltage when jumpered, check the fuel pump relay and fuse links.
Power feed: Look for 12 volts at the pink/black wire (power source for fuel pump relay). No voltage or low voltage, bad fuse link, bad wiring, or connections. Remember that on 92 or later models the fuel pump relay is located under the Mass Air meter. Watch out for the WOT A/C control relay on these cars, as it is located in the same place and can easily be mistaken for the fuel pump relay.
Relay: Turn on the key and jumper the ECC test connector as previously described. Look for 12 volts at the dark green\yellow wire (relay controlled power for the fuel pump). No voltage there means that the relay has failed, or there is a broken wire in the relay control circuit.
91-93 Models:
Using the diagram, check the dark green/yellow wire from the fuel pump relay: you should see 12 volts or so. If not the relay has failed or is intermittent. Check the inertia switch: on a hatch it is on the drivers side by the taillight. Look for a black rubber plug that pops out: if you don't find it, then loosen up the plastic trim. Check for voltage on both sides of the switch. If there is voltage on both sides, then check the Pink/black wire on the fuel pump relay: it is the power feed to the fuel pump. Good voltage there, then the fuel pump is the likely culprit since it is getting power. No voltage there, check the Pink/black wire, it is the power feed to the fuel pump relay & has a fuse link in it. Good voltage there & at the dark green/yellow wire, swap the relay.