on the front of the timing cover, there is a metal pipe. with a sensor on the end of it.... See if it is plugged/full of carbon.
haha edit n/m i see your post above. Very comon to get plugged, not allowing truck to reach full boost. will cause all kinds of problems.
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Sn95' Tripple Black Cobra
Mods:Heads/Cam/Intake/Exhaust...just your typical stock mustang...