Code 14 - Ignition profile pickup erratic?

Hey guys, my 1987 2.3 N/A has been intermittently losing power during acceleration. I checked the codes and got a 14 - ignition profile pickup erratic. I'm guessing it's either a problem with the TFI ignition module or the profile ignition pick-up in the distributor. Anybody have any experience with this problem?
 
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Sounds like a TFI module. They aren't known for superb reliability. Go to the junkyard and snag a few and see if any of them make a difference. Be sure to slather the backside of it with TONS of dielectric grease before installation!
 
It's not a bad TFI, it's a bad PIP. If it was a bad TFI you wouldn't pull a code 14 and the car would just die, not lose power during acceleration. Order a new Motorcraft PIP and TFI. Might as well replace both now because you WILL replace the TFI at some future date. Besides, they both work in conjunction with each other.

When replacing the TFI you don't want to 'slather the backside with TONS of dielectric grease'! Use the proper 'heat sink compound' that you can pick up at RadioShack for $2. The factory manual calls for a smooth even film approximately 1/32" thick.

I just did both those mods to my TC, including relocating the TFI. Here's the writeups.............................

PIP installation

TFI relocation
 
I was under the impression that the heat sink grease was dielectric grease (in fact that is what some of my manuals say it is) but it would probably be a better idea to go and get some stuff that is actually labeled as heat sink grease. Also, doesn't the TFI handle the PIP signal from the hall effect sensor (PIP sensor) in the distributor? I've never heard of one of the PIP sensors going bad, but I suppose it's very possible. True too that if it was the ignition module it probably would just die all together. Either way, both parts are easy to replace.
 
Thanks for the responses guys, and thanks for the very informative links evintho! I scored a dizzy & TFI module out of a relatively low-mile junkyard '90 LX, so I'm gonna try just bolting the whole thing in place of my 162,000 mile original.