The distributor is not a terrible device, that's not where I was going
The DIS spark is just so much better, yes yes I know you can use MSD this and MSD that and get a hot spark like the Ford stock DIS ignition, its still not as good as the factory Ford DIS ignition! Its a great system!!
The EEC-IV computer is just limited, I mean the way I remember it is the OBD1 stuff has like 32 fuel/air/timing maps to choose from the OBD2 computer has like 3200 (layman terms)
Its a far superior system!
OBD2 conversion is NOT THAT HARD compared to what you are already trying to do, I mean the difference really comes down to a MAS air flow sensor and no distributor, otherwise the wiring for Mustang EFI conversion compared to OBD2 Conversion is negligible!!
Especially if you use the 96-97.5 computer and avoid the pats and VSS issues...
Also with the explorer computer in place there is no need for a USSHIFT stand alone controller ($$$$$), let the factory PCM do the work
Joe Deitz, he's around here somewhere, he drives a 1964 Ranchero with a 96 Sploder drivetrain in it, daily driver.
Brett grooms would also be helpful here as he is a early mustang nutcase and Explorer drivetrain expert
I will email them and point him to this thread.
With the 96-97.5 tailhousing and VSS sensor you can ADD THE CABLE to drive your 1965 speedometer
The 96-97.5 5.0L can be stripped down of everything not needed and you are left with a very friendly, easy to swap into just about anything, stand alone drivetrain. Just ask the early bronco guys, the Explorer drivetrain has become quite popular with them in the last 4-5 years......
One last thing I do not believe the RWD trans has to be completely taken apart in order to add the 96-97.5 style VSS tailhousing? I am pretty sure you can add the tailhousing and speed sensor to a 98+ 4r70w without a rebuild....