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If not the TFI then the PIP inside the distributor. Again, the replacement modules suck too. Replacement dizzys normally re-use PIP modules on top of it.
I've even had the motorcraft ones fail right out of box!!!
I didn't even make it home right away. Made it to the first light outside of the office and it died. Got it started and went around the corner to Advance Auto. Turns out the ICM had a corroded pin and was losing contact. It looks like it somehow rusted out. I'll post a couple of pictures later of it. Replaced it with a new ICM (after I swapped out the dizzy in the parking lot) and she fired right up and ran great. Does seem a little sluggish now though and the fuel mileage seems to have dropped. I'll have to check the timing this weekend.
Now, this is a hilarious story. My ICM died too. Figured I would buy a cheap part because the truck is old. I was gonna sell it. Then my daughter turned 15 and I decided to keep it. Second ICM dies, in the rain, in a SUPER rural area of Georgia. The guy who stopped to help me worked at a Ford dealership and then worked on his own shop. He told me to only use the Motorcraft part, or Borg Warner one because he had a lot of second time failures when he was using the cheapo parts from Advance, Oreilly and so on. I put a BWD (Borg Warner) part in, and it's run several years since then. Learned my lesson. And the parts houses can test those controllers for ya.