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Ok off the bat I wanted to say is I'm in love with my 86 F150 302. I bought it when it was five years old and I have had it since.
The problem I'm having is that the engine cuts off while I'm driving. It doesn't sputter or slowly dies it just dies with no warning. It has done it at slow speeds and high speeds.
Things I have replaced: ECU, Emissions Module, Ignition Coil, Fuel Pump, Fuel Filter, Throttle Position Sensor, EGR Position Circuit, TFI Module
I have pressure on the fuel rails and lots of spark, Im stuck!
TFI or module in the distributer. My 300 has been thru two TFI's and one distributer module. Most auto parts stores can test them but your problem sounds heat related. Get a distributer from the junkyard and see if the problem goes away.
So when it shuts off you have cranked itand checked for spark at the plugs and fuel pressure. Next give it some fuel (spray some carb cleaner down the intake) and see if it will run. If it does and it shuts off when you stop adding fuel, then the injectors arent firing.(you said you had fuel pressure). Then check for power to the injector, I believe the eec power relay supplies power to them as well as the coil. the computer then grounds the injector to energize it