Hello, when I'm cruising in the stang I hear a thump in my exhaust randomly. Could this be a valve-floating problem? My springs do have high mileage. Thanks.
It's more likely a 'missfire'. One cylinder is not firing and therefore the unburned fuel/air mixture is getting into the exhaust and burning with a 'thump' as it mixes with exhause from other cylinders.
Valve float only occurs at very high RPM anyway...
I'm betting you TFI and or Stator are shot. If they go the computer can't advance the timing and thus the car runs reasonably well with 26 degrees initial timing.