my buddy just got a 87 bronco 2 with a 2.9 and its runnin like **** and blowing raw fuel out of the tail pipe. i dont know much about these. im thinkin its a fuel pressure regulator whats your thoughts.

 

FPR is certainly among the most common causes of it running that rich. 1st failure mode is a ruptured diaphragm. Run the engine briefly, then pull the vacuum line off of the FPR. If there is gas in that vacuum line, the FPR is bad. 2nd failure mode would be to have the FPR stuck closed. Put a fuel pressure gauge on the fuel rail and see what you get. Anything over ~50 psi indicates a bad FPR (or a clogged return line).