Distributor mounted TFI
 

when removing the TFI module there was a layer of a white greasy substance where it contacts the dist housing .. is this regular old dielectric grease or something else?

The dielec grease I have is basically clear .. is this OK or am I in need of something else when remounting the TFI? (or does it just 'whiten up' with age?)

Dielectric grease will not work too well for this. What you need is White Thermal Compound and you may be able to get at Radio Shack.
The White Thermal Compound is a electrically non-conducting compound. It is made for heat transfer unlike Dielectric grease that is a conducting compound and not good at heat transfer.
You need the right stuff to keep the TFI (ICM) module from burning up.

I have some "silicone heat sink paste" in the computer parts bin .. is this the same stuff?

went googleing while I waited for an answer .. it seems that, yes the "silicone heat sink paste" is the right stuff as I read that the idea is that Ford is using the dist body as a heat sink for the TFI module ..

Sounds like the right stuff.

yeah, wasn't sure if I wanted to resist or transfer heat ..

Use Artic silver 5 thermal compound . You can get it at radio shack. Should do the trick
BigLar