I chased a problem with the iac on my explorer for quite some time (two or three years). After the first few weeks I removed the solenoid from the valve (leaving the solenoid plugged into the harness) and made a mechanical bye-pass valve to control the idle. I eventually nailed down the cause when the truck started throwing up the cel, it was strange really as when the light was out it would run fine but when the light was on it would run like crap. When I tried to pull codes it would do it so I decided it was time to start tracing wires and find out where the problem was. First thing was to remove the cover to access the computer, what a mess. The whole thing was covered with corrosion and upon opening the cover it was the same or worse inside, its amazing it was running at all. I replaced the computer (covered in plastic) and upon replacing the solenoid back on the iac it was back to working again. I'm not saying yours is the same but it might be an idea to take a look at the computer, the top is not sealed so any water can easily enter.
Ya martin I think your onto something. I am starting to think the computer is just old and done. I looked at it and opened it up and it seemed really clean but i guess in this case there is really no way to tell if the comp is working just by looking at it...when examining the comp I looked very close at the circuit board and all the pins and fuses/relays and couldn't find any possible break or anything but i dont know..
Just for fun I will tell you what the actual problem is and what i have checked/ done to fix it (with no solution)... Also the 4.0 just got put in after a 4.0 swap.
Problem: Idle seems to be high at most times (1200-1500) and after a short drive on the freeway or highway the idle will stick at 1700...
Today for some reason it was actually idling at 700 at one point I laughed because it was so random lol
Things checked/changed...
All grounds accounted for/checked with the evtm
New fuel filter
pretty new o2 sensor
New TPS
New IAC (motocraft)
Checked the resistance from comp to the IAC 0 OHM
New pcv valve
checked voltage output of engine coolant temp sensor (good)
checked voltage output of air charge temp sensor (good)
checked voltage of the new tps (good)
checked voltage of maf (good)
cleaned the throttle body/ lubed the the springs to make sure it wasn't sticking open.
new lower middle and upper intake manifold gaskets (also new head gaskets just a side note)
the vacuum pressure is at a steady perfect 19-20 in of Mercury (i really doubt that there is a vacuum leak because that is so good but i also threw some propane in there for fun with no idle change.
The last thing I can really think it could be is just a weird/bad computer
I think I will probably go to the local junk yard and snag one for cheap and plug her in to see what happens unless anyone else has an idea? lol
Thanks for the help martin I am really thinking that is what it is...