Funky Idle when it warms up, lack of power.

Hey, I just bought myself a 88 turbo coupe, I just changed the oil and the plugs, and tomorrow the distributor. When I took it out today for a long drive, as I was pulling in to park in was idling extremely rough, then all of a sudden it would rev up to about 2200rpm then kick out back to the rough idle, and continue this loop forever. When I initially started it, it idled perfectly at 1000rpm, just curious on my possible issues I might have. I'm mechanically inclined but diagnosing isn't my strong point I tend to over-analyze stuff that might be extremely simple.
Thanks in advance.

I'm not much of an expert but I'd start with running the codes. Take a look at the tech articles, its rather simple once you've figured it out.

I would also take a look at the IAC. If that is getting stuck open it will hold your idle high.
There are instructions for removing and cleaning that too.

Good luck and congrat's on the purchase!

Just a food for thought. I had a similar problem with my 88. I removed the idle air bypass on the back side of the throttle body and cleaned it. This did help the issue but not fix. I replaced it with a rebuilt part from auto zone and it imroved but still not fixed the problem. I then expienced ground issues and it got worse. I think it was an electrical issue confusing the computer with was over compensating. I then lost the tranny and never actually solved the problem. hope it helps some?

First thing to do is all the preliminary stuff which you started with the oil and plugs etc. Clean the IAC and set the base idle and adjust the tps and check the timing. Another good thing to check are all the vacuum hoses. Not to mention pulling the codes. Theres a ton of info on the faq and tech pages here and over here

http://www.turboford.net/faq/index.shtml

Thanks for the advice and so far I have set the timing it was @ 23 degrees advance I set it at 11 degrees advance, I cleaned the IAC, I put on the cold air intake, and straight 3" exhaust, and now it lacks power and backfires when the turbo hits 15psi and more than 3/4 throttle(the turbo never hit 15 psi before)I'm running regular fuel. I pulled the codes.
KOEO KOER
`22 `17?
`28? `22
`42 `28?
`63 `72
`72

Ok now I feel like an idiot but(didn't unplug the spout, so I reset the timing and, set the tps to .94 volts, it doesn't backfire anymore and it has good power, it misses once and a while, so I'm gonna change plug wires, it idles alot better, so far so good. Thanks for the quick responses