In addition to all the excellent information here, there is a Ford TSB about this problem. I'll paste it in here in a sec. I have a 92 and am fighting the same issue. Over the years I've done a new MAF, plugs, intake manifold gasket, etc. It gets better for a while, then comes back. I'm gonna swap wires and de-carbon the motor per the TSB. Then swap the coil pack if necessary. Yeah it is a pain, but as someone said Ford designed these engines to run right on the edge, so as the miles pile up things are gonna change. BTW, here is an interesting fact, yes, higher octane fuel will stop the pre-det (I run it to keep from destroying the thing), but Ford recommends against it (once the knock is gone I presume) Per the TSB:
4. Use regular unleaded fuel, 87 Octane. Mid-grade and Premium fuels may increase the probability of carbon buildup, leading to a knock noise.
Here's the whole thing:
Engine Knock - Ford TSB for Decarbonization
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I've seen a lot of folks asking about the decarbonization process to help with engine knock. I found the Ford TSB for decarbonization on the web, so I thought I would post it up. Information is power.
Engine - Carbon Knock On Acceleration
Article No:
01-19-7
10/01/01
^ ENGINE - 4.0L OHV - CARBON KNOCK ON ACCELERATION
^ NOISE - CARBON KNOCK ON ACCELERATION - VEHICLES EQUIPPED WITH 4.0L OHV ENGINE ONLY
FORD:
1990-1997 AEROSTAR
1990-2000 EXPLORER, RANGER
ISSUE
Some vehicles equipped with the 4.0L OHV engine may exhibit an engine noise which may be perceived by the customer as a piston/connecting rod bearing knock. This carbon knock is heard only under load during the drive cycle. Carbon knock is a customer drive duty-cycle phenomenon that cannot be repaired with an engine exchange. This may be caused by carbon build-up within the combustion chamber.
ACTION
Verify condition. If normal diagnostics fail to correct the condition, de-carbon the combustion chamber to help quiet the carbon knock noise. Refer to the following Service Procedure for details.
SERVICE PROCEDURE
1. Use Motorcraft Carburetor Tune-up Cleaner PM-3.
2. Carbon removal:
a. Disconnect canister purge line from throttle body.
b. Attach a vacuum line to the canister purge port.
c. At hot engine idle, allow the engine to ingest 1/2 to 2/3 of a can of Motorcraft Carburetor Tune-up Cleaner. Use caution not to ingest too quickly due to potential hydro-lock issues.
d Shut engine off and allow it to soak for one hour.
e. Start engine, allow engine to ingest the remainder of the Motorcraft Carburetor Tune-up Gleaner.
f. Remove vacuum line and re-install canister purge line.
g. Road test vehicle at 3500 RPM for 2-3 miles.
h. Repeat above procedure two times for a total of three times.
i. Change oil and filter.
3. Review the customers' driving habits. The recommended drive cycle should include daily periods of engine operation above 3,000 RPM, such as a brisk acceleration from a stop position. This will break/burn the carbon off the piston head.
4. Use regular unleaded fuel, 87 Octane. Mid-grade and Premium fuels may increase the probability of carbon buildup, leading to a knock noise.