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I am doing some work today and noticed this connector under the hood right on to of the big A/C box. It looks like a green wire and a white wire going in and a single blue wire coming out. There is 12V on the blue wire when the key is "on"
Currently the blue wire has been cut and was taped off.
I think it's for the electric choke assist - at least the white wire. If I'm correct, the white wire should have continuity to one of the terminals on the alternator. And... I forget which terminal. Pretty sure it's F (for Field) or S (for Stator). Which ever terminal it is, it supplies unrectified AC voltage to the choke assist, rather than the DC voltage which powers everything else on the truck.
Does your rig still have the original carburetor? OEM Ford carbs use the AC voltage, while pretty much all other carbs use DC voltage for the choke.
Origininally it would have been connected to a solenoid on the drivers side of the carb (#4 below). As I understand it this was primarily for the AC system. It sometimes gets repurposed to a choke that has been converted to electric (#2).
After reading others answers, I believe those were connected to the idle dash pot, that was activated when you switched on AC to increase the idle speed
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