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its been really cold out lately, about -10 to 0 and sometimes my check engine light comes on, and when i come to a stop my truck smells like burning oil, my dad said his 302 88 bronco did the same thing, it runs good, has all fluids and the temp isnt spiking, anything wrong??
If your CEL is firing that means that it has stored some trouble codes for you. Retrieve the codes and post back here with them. The collective brain trust will help you decipher the codes and suggest corrective action. If you don't know how to retieve the codes go to "fordfuelinjection.com" and there are really clear instructions for you to use in order to pull the codes.
With respect to the burning oil smell - if you can smell it then it is present and you have an oil leak somewhere that is dripping most likely on to your exhaust system parts. I would suspect the valve covers as a first place to look.
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