My 93 cobra runs great the first start up every day, no matter how far I drive its O.K till I stop and start it again than it runs in limp home mode. I have replaced almost every sensor on the car. The only code it puts out is 67 neutral drive switch (NDS) which I have not replaced. I have swapped out the coil with a good one, replaced the 02 sensors, water temp and air temp sensors. And all the usual suspects, Cap,rotor, plugs. Cleaned the MAF wires etc. I Thought maybe the PIP sensor was bad. I was at a Ford mustang specialty shop today having subframe connectors installed and they said that that was highly likely since I have replaced almost everything else, but for that to go bad my distributor shaft was worn out and thats why the stator assembly went bad. I drove off with a new accell billet distributor Guess what... no go.. Please help! what should I do.

Well I hate telling people to just replace parts, but have you ever had the ignition module changed? Not sure if that would cause exactly what you're experiencing, but I have known of cars that would run OK but once they were warmed up the ignition module would start going nuts. It's a very common part that goes bad in 80's and 90's Fords.

(it's usually on the side of the distributor)

Thanks for the input. My new Accel distributor came with a new module. I didn't mention in my first post that I also had an adjustable fuel pressure regulator installed, it's set at the factory 40 psi at idle with vacuum line on and the pressure does raise with throttle input. It doesn't seem to have changed anything. I feel it is definitely something heat related because it will still run good when it goes into closed loop but only for the first start up of the day. Any other things to check? Thanks for your reply. Vern

How many miles do you have on the engine? I had a similar problem with my other '88 but it wasn't bad. I noticed that it liked cold starts more than warm ones. It seemed to hesitate and lack power but it wasn't anything major. Is your car overheating or has it overheated?

My cobra has 160k on the motor and it has never been apart. It runs normal as far as temp goes, I have a 3 core alum rad and twin electric fans. I di notice when this first started happening it seemed to run a bit hotter than normal. I have had cooling problems before and one time I got the car extremely hot , hot enough were I was sure I caused damage. But I cant connect the way it runs now with when that happened it was thousands of miles before it started running like crap. I am at a lose as to what to do next. Looking for a good electronics diagnostic shop that is within 100 miles right now. any other ideas would be great. Thank you for your imput

Yeah, your engine has more miles than mine. I noticed that mine started doing it after it overheated to around 270ºF, thats why I asked. It's possible that it is related but I'm not sure.