Help! Cold no-start problem on 2.3 N/A

I have been having this problem for the past couple of days. It only happens when I let the car sit overnight, or in the parking lot all day at work. When I turn the key on, the fuel pump runs for 2 seconds. When I crank it, it does not start. If I cycle the key, the fuel pump always runs for 2 seconds. This morning, it started the second crank attempt. When I came home from work, it took 4 tries. :bang: :shrug: Please help! I thought it was the cold affecting the FP relay, but the pump always runs when it is supposed to. Maybe it is the TFI module. Almost forgot, this car has an Accel 300+ ignition box and coil on it. But I guess that doesn't matter because it still wouldn't run if the TFI or dizzy pickup were going bad. I will try to pull codes later tonight, but I don't expect to find anything. I know a lot about cars, and Mustangs in particular, but I won't have time to diag it for a couple more days. Thanks for your help!
:SNSign:
 
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Hey, thanks! But the plug wires are probably less than a year old and have about 6,000 miles on them.

Ok, I pulled codes a few minutes ago. I got a 52 for 'hard fault', which is PSP circuit open. I already know about this. However, I did find a continuous code 14, which is PIP circuit failure. I checked the connectors and wires, and I am pretty sure I don't have any problems there. Do I need a new TFI module or a new distributor pickup?
 
Check fuel pressure. Hook up the gage, and check with the pump running, then shut it off.

If it drops immediately when you shut the key off, the fuel pump check valve has failed. It takes longer cranking to get fuel pressure up to where it will run. After that, it runs fine. Ford calls this an extended crank.
 
It did it again yesterday, this time at home. I was able to measure the fuel pressure and it was ok. Unfortunately, my spark tester is at work. :rolleyes: So I don't know if I had spark or not. And it hasn't failed to start since. But it is supposed to be about 10-15 degrees colder here later in the week. :D Maybe it will go bad again. Here's something I found out, an interesting fact: the tool to remove and install the distributor gear only costs $50. The pickup costs about $10-$20. A reman distributor w/o module costs $75. :bs: If you can put in a dizzy, you ought to be able to fix one too. :rlaugh: So I found a used dizzy, the gear tool, and a pickup, all on eBay. I'll just rebuild the spare and then swap it. The other thing I realized is that since I have an Accel ignition box and coil, that would pretty much cover up the TFI module going bad, as long as it still runs. :nonono:
 
I discovered what I think is the problem. The race battery doesn't have enough voltage to run the ignition when it's below 40 degrees out. :bang: So I am on the hunt for a battery holder for my larger battery. I only discovered this after swapping on my spare ignition module. :bang: BTW, has anyone ever taken apart a TFI module and looked at that clear goop inside? My old module had sort of an air bubble in the goop, on the left side. Does this mean it was bad? My spare module looked like it was untouched inside.