A couple suggestion and bits of info:
If you have a stock pressure regulator (check!), there is no good way to adjust the rail pressure. It's not technically adjustable. I've seen some people smash the can, thus adding more preload on the spring, which will increase pressure. This is usually done with a socket over the vacuum port and a hammer. This is a total hack and should never be done. You should be able to tell if someone tried this because there will be a whitness mark. I would suggest calling the shop to ask them exactly how they set the pressure. Could the previous owner have installed an adjustable part? Some adjustables do look similar to the stock regulators.
In general, you need to slow down and go back to the basics like some people have suggested: Measure the rail pressure and check the plugs. Put in a new set of plugs and try to start it. If it doesn’t start, pull one plug and see if it's wet or carboned up. It only taks a couple seconds to foul out a set of plugs if the fueling is wrong, but this will give some indication of how rich it really is. If it's completely clean but wet, then you're either missing spark or getting WAY too much fuel. If it's black/wet carbon, then your borderline on fuel and getting a partial burn. This will tell you a lot! Also, watch the rail pressure during the pump prime and during cranking. It shouldn't fall too far below the spec. If you hear the pump shut off and come back on during a single key-on prime, your pump or the pump relay might be crapping out. The rail pressure gauge will confirm this!!!!!!
It sounds to me like your EEC had learned out a lot of fuel in the adapatation memory (idle range). This adapted fuel trim is probably also used with the cold start fuel (I don't know the Ford strategy in detail, but this math is fairly common in the industry). This is probably why it ran fine from the shop and got screwy when the EEC was power-failed. Also, engines are much more forgiving when they're warm compared to cold. A cold start is one of the most dynamic conditions in engine operation. Hot restarts also use a reduced amount of fuel since more of the gas atomizes instead of getting lost to cold ports during a cold start. So it might have only ran well on the first day because it didn’t completely cool down.
In additon, WOT AFR is only loosely reated to idle AFR. If he did actually modify your pressure, he might have solved a WOT fueling issue and screwed up idle fuel flow. So much so that you're getting WAY too much fuel to start.
You mentioned before that you already had a chip. Are you running the right MAF for the ECU without the chip? If the transfer function is different between the two, your air flow measurement might be off. This is really common with modified mustangs/non stock MAFs and the tuner will usually adjust the base fuel maps or MAF characteristic to compensate. (Don't fall for the MAF's calibrated to injectors BS.)
Also, don't mess around too much with the IAC and throttle screws. If it at least idled before, it should idle now even if you have to baby it to get it started. You could potentailly mess-up the idle control from the IAC's air flow side and then you'll have two problem eclipsing each other, which will be really hard to solve.
- Good luck and keep us posted!