I just posted a thread asking about a blinking ABS light.
Well I found the problem. The fuse for the brake pressure switch on the master cylinder blew. It is # 13 in the fuse box. I had already disconnected the wire to the switch so I did not notice anything right away. However I was curious why the fuse blew because I was driving it last nite.

When I replaced the fuse and got everything working again, I plugged the switch in and immediately the switch startde smoking and crackling profusely.

It was a good thing that I was right there and got it unplugged in time.

97F150 4WD