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5.0L (1979-1995) MustangTechnical discussions on 5.0 Liter Mustangs within. This does not include the 5.0 from the 2011 Mustang GT. That information is in the 2005-1011 section.
Exhaust Gas Recirculation. Whether or not it's beneficial depends on your setup. Unless you are removing and plugging ALL EGR equipment, you can't just take it off. It cycles coolant thru the TB to keep the temp under control from the hot exhaust gases being pumped back thru the intake.