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OK, if only one wire to it and it is about an inch square and about 1/4" to 3/8" thick I am guessing you are talking about a Radio Ignition...
A pic would certainly help!
If you mean these, they are the Camshaft Position Sensors.
I recommend a Wide Band Air/Fuel Ratio gauge.
Did you follow FORD instructions and bleed all four wheel cylinders starting from the one furthest away to the master cylinder to the closest in...
Agree with Earl on what you need. You may also want to consider a Performance Automatic Deep Sump Pan and a transmission temperature gauge. In...
Mickey Thompson 325/50/15's ET Street Radials on mine with Race Star 15 x 10, 7.25" back spacing rims.
Removed the OEM frame rail bump...