yo K!
Nice truck and engine combo!
Go thru this info to test, as long as you have da single fuel tank;
Testing & Connector Pin-Outs in 92-96 Bronco; Sender Range: Full = 160 Ohms; Empty = 16 Ohms; "... gauge that pegs past full indicates an open circuit (broken wire; unplugged connector; corroded terminal; burned sender) on the Y/W wire.
gauge that pegs past empty indicates a short to ground (pinched to the frame, body, or dash supports) on the Y/W wire, OR a sunk float. gauge anywhere in between that doesn't move indicates an open circuit (blown fuse; corroded terminal) on the power (battery) side of the gauge OR a bad instrument cluster ground at C251 pin 9. The terminals of C251 (& C250) are known to corrode & lose contact. Polish both the connector pins AND the film circuit pads with brown paper or a pink eraser. The larger version of C441(WPT454) was used until 93. The level sender can usually be disassembled & repaired by bending the wiper arm inside the plastic housing to apply slightly more force..."
Source: by Steve83 (Steve, That dirty old truck) at
http://www.supermotors.net/registry/media/744437
Testing in 87-96; Fuel Gauge Moves from E to below E; "...Disconnect the connector at the fuel tank, ground the yellow with white tracer wire (make sure you have a good ground),turn the key on-if the gauge goes to empty, chances are, the fuel sender is the problem. If the gauge doesn't move, then recheck the grounding of the Y/W wire,if it is good then the problem is is forward of the sender (wiring/connectors/instrument cluster)..."
Source: by 85bigbronco
This is a my 96's EVTM;
PINPOINT TEST A: FUEL LEVEL READS INACCURATELY
A1 VERIFY POWER AT LOAD SIDE OF FUSE PANEL
Key to RUN.
Using Rotunda 88 Digital Multimeter 105-00053 or equivalent, verify system voltage at the load side of fuse. verify system voltage at the feed side of the fuse.
This is Ford's way of sayin' .. check Fuse..lol
Now, I'll skip the instr cluster part and suggest you look at the tank connector for all other tests they describe;
http://www.thedieselstop.com/faq/9497faq/maint/stj/stjd1017.htm#pptd1001
So in Tank Connector C441;
Y/Wh is gauge power
Bk is gauge Ground
Go to
A10 CHECK FUEL TANK SENDING UNIT GROUND
Key off.
Measure the resistance of the BK wire at the fuel level sensor connector to ground at battery.
Is the resistance less than 1 ohm?
NO - SERVICE the BK wire from the fuel level sensor to ground.
Yes - Inspect fuel tank for distortion or damage.
Is the fuel tank damaged?
Next tests are on da float
Summary is;
"...With the sending unit float arm in the empty stop position, resistance should be 15 ohms (below E). With the sending unit float arm in the full stop position, resistance should be 160 ohms (above F). The fuel gauge should read empty at 22.5 ohms and full at 145 ohms..."
Since the prev owner has that oil pan /gasketc etc. I'm guessing a big 99.9% that the oil aroma is due to a badly rusted pan (Ford used the badly rusted outer roll of sheet steel for "non-appearance locations; meaning non-body panel, hood, etc components) and/or bad gasket.. noisy pump.. et al
I'd clean the new pan and get a great coat of POR15, Rustoleum red primer or Rust bullet on it; some even prime the inside of da pan.
GL!