Scantron? has an OBD 1/2 scanner. Has adapters for OBD 1 Ford, GM, Dodge, and Japan cars in addition to all OBD 2 cars. Shows error codes and also real-time data like RPM, engine temp, ignition timing advance, etc. I paid like $250 or so for it a few years ago, but worth it IMO.
I love Foxbodies, having owned two '92s with the 5.0 / T5. My first was a '92 GT, and then I picked up my dream car, a black '92 LX notch that was a former Florida SSP car. Both were reasonably stock, and were great cars. Brakes and chassis stiffening would be my first two recommendations. Both have been gone for many years, but I miss them dearly.