MetalHead, what has happened is that your damper has slipped. The original Ford units were made with two metal units with a rubber "shock absorber" sandwiched in between. After X amt. of years these things fail. When that rubber sandwich thing fails, the metal pieces will no longer be lined up correctly and you will get incorrect readings due to the slippage. You need a new damper. I just got a new Ford unit from my local Mustang parts place for about $100-110. You can get excellent after market dampers from Summit (Fluid Damper or others) for a little more money. This is my take on that problem.
Rev
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'66 Coupe, 306, 350-375 HP, C-4, 13.07 e.t., 104.8 mph, 1/4 mi.
O.B.C. #2
'66 coupe
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