Without a smog pump you are going to fail miserably. Your cats need oxygen for them to work well, especially the stock cats.
Give it a shot, though. Run 87 octane and make sure your timing is at the stock 10 degrees. Make sure you have brand new O2 sensors that work in addition to all the basic tune up stuff already mentioned. Gap should be at .052-.054".
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351W 89 Mustang GT Convertible
[This message has been edited by jimberg (edited 07-23-2001).]