Do you know how long that code has been sitting there? You shouldn't have to replace the EGR.
What engine modifications have you made?
Auto or manual trans?
EEC IV code 332
KOEO (Key off engine off): EGR Closed-valve voltage higher than expected.
KOER (key on engine on): Insufficient EGR flow detected
My knee jerk reaction is to say - clean the EGR valve. You must clean it very well, both the valve and the seat in the manifold. The surfaces (metal) must be clean around their full circumference or there will be an exhaust air leak, an the error code may be generated. Use degreaser / solvent. Do NOT clean with sandpaper or abrasives.
Make sure that your EGR gasket is good and tighten the EGR down properly. MAke sure the vacume lines are hooked up properly and that ther are no vacume leaks.
Regarding your Idle:
With your low idle at 1500 RPM there is something else wrong. This is way high for low idle, it should drop to 1000 rpm or lower (I like mine set below 1000 rpm, but this setting depends upon other modifications you may have made. 1000 rpm is good for stock engines to get proper throttle response).
The way you describe the throttle response at idle I would be very suspecious of the throttle body, throttle linkage / idle adjust, and the ISC (Idle Speed Control).
It is possible that one or all of these components need to be cleaned.
Do you perform your own tune-ups?
What was the last thing you did, and when?
For fast idle troubles, diagnose in this order:
1) check fuel / throttle body (Idle Air flow (ISC), throttle plate, linkage, idle adjust screw)
2) Check vacume distribution (check for vacume leaks - disconnected or leaking vacume line: EGR, brake, and A/C control)
3) Check Air intake system (inspect and clean the air tube, INtake manifold gaskets (all of them), air leak around injector O rings, MAS air meter (clean it as per instructions on this board).
4) Check Cooling system (are you overheating,or running at a higher engine temp. than usual, check, clean (flush), replace fluid as needed)
5) Air Conditioning System check (Is the A/C clutch, pressure switch working properly. Sometimes the A/C clutch is "over active" causing high idle.
6) finally- Ignition check (Is the base timing plus advance set properly, and idle adjust setting)