If you want to check your exhaust, disconnect it at the downpipe. Then drive it and see what happens at 5000 rpm. If it works, then it's somewhere in your exhaust, and most likely your cat. As for the boost, I'm not sure why it's stopping at 10psi, unless the exhaust can have an effect on it, which could possibly be. Also, do as you said and replace the TFI and PIP sensor and do a complete MOTORCRAFT tune-up on it.
Rick
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