Danny,
I looked at your engine specs and am not sure if you have an ECM other than the 950 unit. I have built a test box to install on engines with a knock sensor as part of function. The sensor is an off the SHELF purchase and just need black box to record or warn when triggered, I run the older brother to your Holley 950 or the 4DI reworked to the max. to fit my needs.
The electronic curve is the only way to fly as you have a fixed or solid mount for the pickup and computer moves timing. The vibration added to the plate then moved by vac is sloppy by design magnified by 7000 rpm. It does work but it has room to be improved also.
I admit this is extreme aurgument but I have been raised in the day of dual points (huge springs ) on a plate shaken by the gear drive. Todays stuff is already better than even the Vertex/Hunt mags or yesterday.
This article says the newer 950 interfaces with a knock sensor.
http://www.popularhotroddingweb.com/...k/0305em_musi/ If so just buy one off the self for an injected 5.0 mustang and you are set. It functions as an on/off sw. to be basic in theory. On means retard and off means keep programed advance. The turbo boys have this to a science !!! Have fun and if going to push the limits with timing you do need a sensor, jeff c