My '88 3.8L had the TFI module mounted to a heat sink on the rad core support, up in the cool air flow, from the factory. Since I did the 5.0L swap, it's now mounted on the distributor. I might eventually extend the TFI harness and mount it back on the rad support.
225's won't rub the struts, I ran that width for years on my 88 with stock front end.. granted it's close at 1/4" or so. I have 245's on snowflakes up front now and have to run 1/4" MM spacers for clearance.
Here's my T-bird at the San Francisco Old Car Picnic this past weekend. This is the first year they bumped the minimum model year from '87 to '93 :) http://www.sfcarpicnic.com/
Yup, Transwheel did an awesome job refurbishing the wheels. Looks like they acid dipped them, painted the pockets gray, machined the face, then clear coated the entire wheel. The wheels spun up perfectly true on the tire balancer and only required a couple of ounces to balance with the BFG's.