1997 Ranger xlt 4.0 Loss of Power When Cold

Hey guys, I have been following this forum for awhile but this is my first post. I have a 1997 ranger xlt 4.0L that I got about a year ago. The truck has 208,000 miles but its running pretty strong all things considered (for the most part).

I am not really sure if this is one problem or a list of problems. These symptoms seem to be related but I don't know for sure.
- Trouble starting when cold. It takes several seconds to turn over. Not a big deal but annoying at times.
- When the engine is cold (specifically when it is cold outside) and I first take off I have serious loss of power, probably a 30%-40% loss. It will kind of go in and out until my temperature gauge goes about the cold reading.
- Sometimes it idles really rough, fluctuating between 700rpm and 1500rpm semi-rapidly. It only started doing this about a week ago when the weather got cold but I cannot say for sure whether this is a direct result of the cold.

I was told that it could be an O2 sensor causing the idle issues but the sensor behind the intake is fairly new so I don't think it would be that one. I was also told it could be my injectors need cleaned so I ran some Tune-up in a Bottle through it on my last tank of gas but no change. I had a similar idle problem this summer and it turned out to be the Intake Air Control Valve so I replaced that and it solved the issue until now. I don't even know where to go from here. Any suggestions are appreciated. And I know I am running the risk of sounding like an idiot with this post because I am probably just missing something simple and obvious but this is the first truck I have ever owned/worked on so I haven't quite gotten my sea legs yet. Thanks

if you can find someone with decent a OBDII scanner you can check a few things out. see what the engine coolant temp is displaying on a cold start and when warmed up. should be ~180-190F when warm but a lot of scanner will display in celsius. see what your fuel trims are also. would be a good starting point.
do you have any CELs on?