I have the same engine/ trans combination in a 92 F-250 with 150xx miles and haven't had any issues with it, in fact aside from being gutless it has been trouble free transportation.
I would start with vacuum leaks.
I recently spent a considerable amount of time on a 90 F-350 , 460/automatic combination with a similar issue, after much time and work to restore all the messed up and blocked off vacuum hoses, I finally discovered that the transmission modulator valve was faulty.
It maybe something else but I would start with anything related to the vacuum system and running the vacuum hoses first.
email me when you solve it or post the follow up here .
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Today's Featured Article - Tuning-Up Your Tractor: Plugs & Compression Testing - by Curtis Von Fange. The engine seems to run rough. In the exhaust you can hear an occasion 'poofing' sound like somethings not firing on all cylinders. Under loaded conditions the tractor seems to lack power and it belches black smoke out of the exhaust. For some reason it just doesn't want to start up without cranking and cranking the starter. All these conditions can be signals that your unit is in need of a tune up. Ok, so what is involved in a tune up? You say, swap plugs and file the points....now tha
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