Generally, it work best if you only make one post when you have a problem so you don't get repeat answers for the things you have already done. Continuity helps us all work together better.
Seven things come to mind:
1.) Is there 12 volts between the red & black/lt green wires for the MAF?
2.) Have you tried turning the MAF assembly (clocking it) to a different position?
3.) Has the MAF element been cleaned, if not clean it with electrical cleaner or non-flammable brake parts cleaner.
4.) Do you have the correct sample tube for your C&L meter? Is it installed snugly in the MAF housing?
5.) Are there any leaks in the ducting between the MAF & throttle body?
6.) Have you tried replacing the MAF sensor?
7.) have you tried measuring the MAF voltage between pins 50 (dark blue/orage wire) & 9 (tan/lt blue wire) while the car is moving?
There are three parts in a MAF: the heater, the sensor element and the amplifier. The heater heats the MAF sensor element casing 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 output varies with RPM which causes the airflow to increase or decease. 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.
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 and ground.
See the following website for some help from Tmoss (diagram designer) & Stang&2Birds (website host)
http://www.veryuseful.com/mustang/tech/engine/images/fuel-alt-links-ign-ac.gif
http://www.veryuseful.com/mustang/tech/engine/images/88-91eecPinout.gif