Smog Pump and Cats removal

Before you go pulling stuff off, learn how it works. Then you can make informed choices. That way you won't remove things that will break the car or cause the computer to go into limp mode.

Here's a book that will get you started with how the Ford electronic engine control or "computer" works.

Ford Fuel Injection & Electronic Engine Control 1988-1993 by Charles Probst :ISBN 0-8376-0301-3.

It's about $20 from Borders.com see http://www.amazon.com/ . Select boo...very good, and I found it to be very helpful.
 
I would still recomend learning about how stuff works, then deciding what to do with it but you do not have to worry about a check engine light on your 88, there isnt one.
 
You're still going to have trouble codes stored which reflect the fact that your smog pump isn't working properly. If you're wondering about "overriding" it because you have emissions testing, then just leave the stuff on.