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I assume you know about how to read the codes with a analog voltmeter since you already mentioned it.
Really, a decent analog meter would be a good investment. If falls short as far as testing components and some of the circuitry on a computerized vehicle, but you can't beat it for testing lighting circuits and other regular circuits in an auto. If you get one with the higher voltage ratings, you can use it in your house too, for stuff like water heater element checking, and double checking circuits to see if they are safe, such as installing a ceiling fan or something.
You don't need anything to read codes on '87-95, and maybe a 12V test light on older EFIs. The engine light on the dash will flash the codes out - all you have to have is a jumper wire (paperclip) and the code list.
http://www.broncodata.com/tech/codes.htm
I'm sorry I do own a DMM, but they can't compare to an analog's sweeping hand, which is better for this process of counting pulses. I guess I should buy the light, but I'm fond of making test jigs and the like. I just thought someone had a schematic for a test light. Thanks for the info all the same. My truck is an '86, but I'll look for the engine light and see if it does anything while I'm at it.
I just got a 12 volt light. Also picked up the Hayes for the Bronco, F series etc. I dare say it's more thorough than the Chilton with respect to electrical info.
Thanks again,
Dan
PS, any insight on what a good culprit for NO advanced timing may be? I'm gonna swap the whole distributor, TFI combo for a known good. Also have a spare computer. Thank You.
Follow the distributor wires back in the harness. There is a spout connector that may be unplugged. You have to unplug this to set the timing, but maybe somebody unplugged it by accident. This would give you no advance.