David, it may very well and I make look into that. This ECU appears to have been repaired by FAST years ago. It was working in a local car which I saw running at one point so before I plunk down more change to go to distributorless and find out the ECU's options, I figured I would make the TFI distributor work since it is a cheap route and I've run it before on another programmable ECU (Accel Gen6). I wanted to respond to this thread and update what I ended up doing.
So no luck anymore finding these new or rebuilt. Searched rockauto, oreilly, and a few local yards. Ford changed the distributor on the F250/350 460 after 88/89 and moved the TFI to a remotely mounted heatsink. This distributor has the same shaft length, hex oil pump shaft size, and gear size as the 351c. But there is an easy replacement. The 351w distributor is the same distributor except it has a longer shaft. these are still available at parts stores for mid to late 80's ford f150 trucks with 5.8 windsors, for around 100 after core charge. I found a cheaper one on the bay. Not even a day after I made that purchase a 460 TFI distributor showed up on local craigslist, but guy said he put it in storage already and wanted to charge more, plus it was still an hour roundtrip to get it. I eventually got the 351w distributor and was putting on a bronze gear anyway, so I just went to a buddies shop and we pressed off the gear and used a cutoff wheel to shorten the shaft by 1/2" Came back home and it fit great.
For those of you looking to go EFI in your pantera, I think this is one of the cheapest routes. Go find an accel gen7, FAST classic, FAST XFI for an 87-93 mustang and then have someone weld injector bungs on each runner of your non EFI intake, and add rails to mount. I had someone quote 400 to do this on an existing motorsport single plane I had. Now TFS and i think the parker may have bosses on the intake ready to do this. Put a wilson or fabricated elbow on the 4150/4500 pad and then mount a mustang throttle body so you can mount the IAC and Throttle Position sensor. Pretty basic and effective. Or go with those FAST EZ-EFI, they look less involved if you want new. May be just as cost effective but not sure how much the kits are. A sequential setup with the injectors on each runner would be more effective but for the casual driver like most of these cars are, probably would make less of a difference.
The Wire Loom I have was meant to be mounted in an 87-93 mustang with the TFI on the distributor so there is only so much reach for the TFI plug, thats another reason I'm sticking with the onboard TFI.