I don't know if I missed something, but did u change out the distributor yet? I know my Ranger, and I think mustang also have a chip in the distributor. In the ranger, when they went out, it just stopped running. Try what Chris said, swap distributors.
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'84 mustang GT turbo
'85 LTD
'89 Camaro Irocz z28
'94 Lightning
'96 Trans am
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