A lopey cam will result in poor driveablity in traffic. If you intend to use the car for anything but short trips to the race track and back, it isn't a good choice.
Here's a book that will get you started with how the Ford electronic engine control or "computer" works.
Ford Fuel Injection & Electronic Engine Control 1988-1993 by Charles Probst :ISBN 0-8376-0301-3.
It's about $25-$40 from Borders.com see
http://www.amazon.com/ . Select books and then select search. Use the ISBN number (without dashes or spaces) to do a search. Try searching using M-1832-Z1 instead of the ISBN number if you don’t get any positive results. You may only be able to find a used one, since the book is as old as the cars it covers. Or you order it from your Ford dealer as SVO part no. M-1832-Z1.
Use the ISBN number and your local library can get you a loaner copy for free. Only thing is you are limited to keeping the book for two weeks. It is very good, and I found it to be very helpful.
OBD1 comes in Speed Density and Mass Air Flow versions. It differs from OBDII in that diagnostic data cannot be streamed through the diagnostic port in a real time mode. The diagnostic data is stored in volatile memory and dumped on command by an external jumper or code reader connected to the computer’s diagnostic port. Watching the Check Engine Light, an external test light or voltmeter are all that is need to dump the codes on an OBDI system. An OBDI code reader can be used, but it isn’t an absolute necessity.
ODBII is capable of streaming data through the diagnostic port in real time mode. It requires a code reader that handles the OBDII data format. No code reader, no way of knowing what the codes are. The plus is you can watch changes in sensor data as they happen, and use the information to plan changes in the computer's program. OBDI requires a laptop & some specialized hardware to do the same thing.
Both OBDI & OBDII have adaptive learning to accommodate changes in sensor output, so as the sensors and airflow values change, the computer adjusts for them. Mass Air systems have a greater range of adaptive learning than Speed Density.
Speed Density uses Manifold vacuum (MAP), Throttle position (TPS) and RPM, Air Temperature (ACT) & Engine Coolant (ECT) to guess how much air the engine is pulling in. Then it uses all of them to calculate the air/fuel mixture. It is dependent on steady manifold vacuum and minimal changes in airflow from the stock engine configuration to maintain the proper air/fuel ratio. Change the airflow or vacuum too much and the computer can't compensate for the changes, and does not run well. Forget about putting a supercharger, turbocharger or monster stroker crank in a Speed Density engine, because the stock computer tune won’t handle it. Every time you seriously change the airflow through the engine, you need a new custom burned chip to make the engine run at peak performance.
Mass Air uses a Mass Air Flow meter (MAF) to actually measure how much air is being pulled in and uses the inputs from the TPS, ACT, ECT, RPM and Barometric Pressure sensor (Baro) to calculate the proper air/fuel ratio. It is very tolerant of changes in airflow, and vacuum and tolerates wild cams, high flowing heads, and changes in displacement with minimal difficulties. Larger injectors can be used with an aftermarket calibrated MAF or a custom dyno tune. This makes it possible to use the stock computer with engine displacements from 302-408 cu in, and make many modifications without a custom dyno tune chip. Put a new intake manifold on your 331 stroker and the computer figures out how much more fuel to deliver without having to have a new chip burned to accommodate the extra airflow[/url].