Make sure that you don't have other problems before you go playing with the fuel pressure.
Step 1.) Make sure the ignition is working properly.The TFI module failure mode is an engine that misfires at high RPM when warm. Be sure plugs, & plug wires are good. Plug wires can be checked with an ohmmeter. They run about 2K Ohms of resistance per foot, so a 3 foot wire would be 6000 ohms. Check cap & rotor for cracks and carbon streaks.
Step 2.) Dump the codes and see what the computer says is wrong…
Here's the link to dump the computer codes with only a jumper wire or paper clip and the check engine light, or test light or voltmeter. I’ve used it for years, and it works great.
See
http://www.troublecodes.net/Ford/
OR
See
http://www.mustangworks.com/articles/electronics/eec-iv_codes.html
IF your car is an 86-88 stang, you'll have to use the test lamp or voltmeter method. There is no functional check engine light on the 86-88's except possibly the Cali Mass Air cars.
Codes have different answers if the engine is running from the answers that it has when the engine isn't running. It helps a lot to know if you had the engine running when you ran the test.
Trouble codes are either 2 digit or 3 digit, there are no cars that use both 2 digit codes and 3 digit codes.
For those who are intimidated by all the wires & connections, see
http://www.actron.com/product_detail.php?pid=16153 for what a typical hand scanner looks like. Normal retail price is about $30 or so at AutoZone or Walmart.
Or for a nicer scanner see
http://www.midwayautosupply.com/detailedproductdescription.asp?3829 – It has a 3 digit LCD display so that you don’t have to count flashes or beeps.. Cost is $35.
Post the codes if any, and we will try to help you.
Step 3.) At WOT, the air/fuel ratio is a function of fuel pressure, RPM, airflow through the MAF (mass air cars only) and the TPS. The O2 sensors don't have any control input into the computer's program at WOT.
Therefore you can use the SOP meter...
Get one of your buddies to ride along with you. Find a level stretch of road where you can do some testing. Watch for the wind speed and direction, it can have a definite impact on your test results.
Don't choose a speed range that will make you shift gears, the shift quality & speed will affect your results. Use 2nd or 3rd gear and do a run from 2000 RPM to 5800 RPM. Call out the RPM as it increases and have you buddy record it and the elapsed time. If you have one of those cheap digital watches like I do, a stop watch is built in.
Start the fuel pressure at 36 PSI, vacuum off and make a run. Turn it up to 37 and make another. Be sure to reconnect the vacuum every time you set the pressure. Keep turning up the pressure and making runs until you notice a drop off in time. If your bud was careful to record the results, you'll have a nice chart to use to find the optimum pressure.