87 tc barely runs

Just bought the car. It ran ok for having 5 year old gas.

Performed the following repairs to it-
Filter and oil
spark plugs- OE motorcraft
cleaned the cap and rotor contacts
Flushed the transmission
Replaced the ground cable on the battery
fuel filter
Added 3-4 ounces of fuel injector cleaner with 6 gallons of 93 octane

After i'm finished with all that work, i go to start it up and it fires right up and purrs like a kitten. It idles GREAT! But here is the issue, I cant get more than 25-2700 rpms out of it in neutral. I checked fuel pressure with engine running and vacuum line hooked up. right at 40 psi. It feels like it is completely lacking fuel. I don't have a wideband in this car yet. No black smoke out of tail pipe, no unusual odors either.

What am i missing?

You say it ran OK for 5 year old gas. Did you drive it or just start it up?
partially clogged injectors?
Air leak?

first thing everyone should do upon purchase of a tc......pull codes...

Pete, drove the car up and down my lane. Made it up to around 45 or so.

4 cammer-- If the light functions during KOEO, but is not lit while KOER, is there still codes set?

Pete, drove the car up and down my lane. Made it up to around 45 or so.

4 cammer-- If the SES light functions during KOEO, but is not lit while KOER, is there still codes set?

Clogged fuel filter and/or fuel pump sock. Change/clean them.

new fuel filter Rob. But i agree, it could be a fuel pump sock.
How do i explain the 40 psi of pressure at the rail though? Seems like the pressure would drop if that was the case.

Is it possible that crud could have gotten past the filter, and plugged the screen on the top of the fuel injector?

Maybe a plugged converter?

theres no load at idle so pressure could "look" fine... you need to know what its doing under load...

Run the whole fuel system diagnostics.
http://www.turbotbird.com/techinfo/Fuel_...ostics.htm