First the easy one, the vac hose you broke, fix it with windshield washer hose (very small vac line), works great.
I agree with the last poster, check your fuel pressure, also check spark , a weak spark will cause lack of power and excessive fuel consumption. Did you have your catilitic converter replaced?
Few more items to check is to check is compression, timing, vaccume leaks (5.0 have bad problems with upper plemun gasket vaccume leaks), Check your PCM for any DTC's(Diag Trouble Codes), MAP sensor problem, Trannie problem (auto), clutch problem (man). this is all a good place to start.
As for the blue wire, ????? poss trailer brake controller wire fromt previous owner???
Hope this helps, for starters at least.
Ford guy with twin rockcrawling Samurai's [img]/wwwthreads_images/icons/wink.gif[/img]