You should have 65-70psi on a '99
It shouldn't drop more than 10psi with key off, and it shouldn't continue to drop.
'99 only has one check valve that holds pressure after key is off, that is in the fuel pump in the tank.
You could have a leaking fuel injector, test for it this way:
warm engine
engine off
key on count to 3, key off, key on again(this primes fuel system twice)
press gas pedal to the floor and hold it down
Crank engine, it should NOT start, it should NOT fire at all, it should just crank
If it fires, tries to start, then you have a leaking injector and that's where fuel pressure is going.
If it doesn't fire then injectors are fine, check valve in fuel pump is going bad, it will get worse.
The above test is called Clear Flooded Engine routine, all fuel injected engines have this routine, not just Ford.
Key on
Gas pedal to the floor
Crank engine
Fuel injectors are shut off but spark stays on
When you release the gas pedal injectors will start again, even while cranking.
Until resolved turn key on count to 3, turn key off, repeat 3 times, this will build up pressure in the system for starting.
The computer only runs the fuel pump for 2 seconds when key is turned on, fuel pump won't come on again until rpms are above 500, so not until after startup, turning key off and on again gets another 2 seconds
