I've had another post before with this code. The problem went away and has came back. I've checked circuit after circuit with no luck. All sensors are fine. This and code 327 are the only codes I get now with KOER, KOEO, and continius code checks.

A little brief history...
The truck was running great, but had a coolant leak in the front of the intake gasket. I replaced that one day, and the truck wouldn't start again. Everything was together right. I replaced plugs, plug wires, distributor cap and rotor, ignition coil, TFI module, PIP(Hall Effect) sensor, and probably some other stuff I'm forgetting right now. Anyways, I ended up looking at the PCM. I replaced its capacitors and it started up on the first turn over(with lots and lots of smoke as it was flooded). The truck didn't run for about 3 weeks. After that, I had problems with idle. That ended with me replacing the IAC solenoid. I had code 212 then as well.

Since its been running again, the truck has not ran nearly as well. It sometimes bogs when I get on the throttle and misses at idle off and on. Sometimes it runs very rich at idle, too. So rich that when I start to accelerate that I shoot big puffs of smoke out. The truck is not burning any oil. And I estimate I'm getting around 12 mpg.

I've already tried the old TFI, reset the codes, and I still got 212 and crappy running. I've also read that this code/problem shouldn't really affect the running of the engine like this. Since I'm having the "running rich" problems, I'm going to test the fuel pressure again tomorrow. But, is it still possible my PCM is bad?

 

In my 95 manual code 212 is loss of Ignition diagnostic monitor input to the PCM/ spout circuit grounded. Code 327 is EGR (EGRP/EVP/PFE/DPFE) circuit below minimum voltage. You didn't specify what year model engine you have. I would check to see that Spout is not grounded first - easiest. Check forum for info from fefarms on IDM signal to PCM, I remember seeing it but not details. Hope this helps.

 

Can't beleive I forgot the most important info.

1994 F-150
302 5.0 MFI/EFI
1993 Ignition(truck came like that)

I've put on...
-smaller crank on(stock Mustang pulley) and adjusted the alternator pulley size
-electric fan(has 130 amp alternator, too)
-higher flow exhaust

I've taken off...
-stock fan
-cat. converter
-EGR
-thermactor system

 

With the above info I can't think of anything that might help - no experience with disconnected systems. The fuel does sound like a good place to start - too much pressure plugged filter etc. Good luck.