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Total waste of money. You can get more power by bumping the timing out to 12 degrees. ANY "chip" that does not accept a custom tune and hook in the side port of the pcm is a fake, it is right up there with intake spacers, turbine inserts, electric superchargers, gas molecule aligners, the hydrogen retrofitted car for 20 dollars, the 250mpg carb, and stickerzzz, well actually the stickerzzz are more useful.
Actually a new set of Turbonator Muffler bearings will help a lot.
Archion is correct, the Ford EEC has what is called a J2 port that was used to access the programs in the EEC by Ford. There are a number of available options, Moates has several, the TwEECer, but it isn't as up to date. There are people who will write a custom tune for you to use in a number of these.
Archion and I are both assuming you have the 302 EFI engine. This engine has the absolute worst heads Ford ever made for breathing. The other thing, the '85-86 EFI system is sort of an orphan, '87 up systems are better, but the EEC isn't compatible with the control system used in '85-86. EGR control is completely different after those years.