The VSS (vehicle speed sensor) has nothing to do with your starting problems. It will keep the cruse control from operatiing and possibly cause some stalling problems when you slow down to stop.
It sounds like you are already on the track of the problem with no fuel pressure.
Fuel Pump Troubleshooting for 87-90 Mustangs
Clue – listen for the fuel pump to prime when you first turn the ignition switch on. It should run for 5-20 seconds and shut off. To trick the fuel pump into running, find the ECC test connector and jump the connector in the Upper RH corner to ground.
If the relay & inertia switch are OK, you will have power to the pump. Check fuel pressure – remove the cap from the schrader valve behind the alternator and depress the core. Fuel should squirt out, catch it in a rag. A tire pressure gauge can also be used if you have one - look for 37-40 PSI. Beware of fire hazard when you do this.
No fuel pressure, possible failed items in order of their probability:
A.) Tripped inertia switch – press reset button on the inertia switch. The hatch cars hide it under the plastic trim covering the driver's side taillight. Use the voltmeter or test light to make sure you have power to both sides of the switch
B.) Fuel pump power relay – located under the driver’s seat in most stangs built before 92. On 92 and later model cars it is located below the Mass Air Flow meter.
C.) Clogged fuel filter
D.) Failed fuel pump
E.) Blown fuse link in wiring harness.
F.) Fuel pressure regulator failed. Remove vacuum line from regulator and inspect for fuel escaping while pump is running.
The electrical circuit for the fuel pump has two paths, a control path and a power path.
The control path consists of the inertia switch, the computer, and the fuel pump relay coil. It turns the fuel pump relay on or off under computer control. The switched power (red wire) from the ECC relay goes to the inertia switch (red/black wire) then from the inertia switch to the relay coil and then from the relay coil to the computer (tan/ Lt green wire). The computer provides the ground path to complete the circuit. This ground causes the relay coil to energize and close the contacts for the power path. Keep in mind that you can have voltage to all the right places, but the computer must provide a ground. If there is no ground, the relay will not close the power contacts.
The power path picks up from a fuse link near the starter relay. Fuse links are like fuses, except they are pieces of wire and are made right into the wiring harness. The feed wire from the fuse link (orange/ light blue wire) goes to the fuel pump relay contacts. When the contacts close because the relay energizes, the power flows through the contacts to the fuel pump (light pink/black wire). The fuel pump has a black wire that supplies the ground to complete the circuit.
Remember that the computer does not source any power to actuators, relays or injectors, but provides the ground necessary to complete the circuit. That means one side of the circuit will always be hot, and the other side will go to ground or below 1 volt as the computer switches on that circuit.
See the following website for some help from Tmoss (diagram designer) & Stang&2Birds (website host)
http://www.veryuseful.com/mustang/tech/engine/images/IgnitionSwitchWiring.gif
http://www.veryuseful.com/mustang/tech/engine/images/fuel-alt-links-ign-ac.gif
http://www.veryuseful.com/mustang/tech/engine/images/88-91eecPinout.gif
Now that you have the theory of how it works, it’s time to go digging.
Look for 12 volts at the Orange/Lt. Blue wire (power source for fuel pump relay). No voltage or low voltage, bad fuse link, bad wiring, bad ignition switch or ignition switch wiring or connections. There is a mystery connector somewhere under the driver’s side kick panel, between the fuel pump relay and the fuse link.
Turn on the key and jumper the fuel pump test connector to ground as previously described. Look for 12 volts at the Light Pink/Black wire (relay controlled power for the fuel pump). No voltage there means that the relay has failed, or there is a broken wire in the relay control circuit.
Check the Red/black wire, it should have 12 volts. No 12 volts there, either the inertia switch is open or has no power to it. Check both sides of the inertia switch: there should be power on the Red wire and Red/Black wire. Power on the Red wire and not on the Red/Black wire means the inertia switch is open.
The Tan/Lt Green wire provides a ground path for the relay power. With the test connector jumpered to ground, there should be less than .75 volts. Use a test lamp with one side connected to battery power and the other side to the Tan/Lt Green wire. The test light should glow brightly. No glow and you have a broken wire or bad connection between the test connector and the relay. To test the wiring from the computer, remove the passenger side kick panel and disconnect the computer connector. It has a 10 MM bolt that holds it in place. With the test lamp connected to power, jumper pin 22 to ground and the test lamp should glow. No glow and the wiring between the computer and the fuel pump relay is bad.
If all of the checks have worked OK to this point, then the computer is bad. The computers are very reliable and not prone to failure unless there has been significant electrical trauma to the car. Things like lightning strikes and putting the battery in backwards or connecting jumper cables backwards are about the only thing that kills the computer.
