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ok, first of all I have an 88 5.0 efi.
I bought an 88 5.0 out of a station wagon. I took the car intake off and put the one on from my bronco, swapped all other nesasary goodies, put new valve seals in, and re torqued the rockers according to the specs. I cant get the friggin thing to run right at all. it is running REALY ritch, and wont idle, it spitts and spuders rally bad.
I do not have the knock sensor installed on the motor as there isn't a spot for it, also running the distributor from the car.
possibly 2 things the first being a vacuum leak(large) the second and more probable is to much advance, did you change the front cover and use the truck water pump and front cover because if you didn't thepump is running backwards and it will probably overheat, with the serpentine belt the pump goes the opposite direction and you can't just change the pump because the output holes are reversed as well and it wont seal.
Did you use the truck firing order or the car's. If you used the 1-5-4-2-6-3-7-8 order from the truck, you might want to try the 1-3-7-2-6-5-4-8 order and see if that clears things up. Have you tried pulling codes from the computer?