Holy [censored]!

Poor engine...
Tip: get a Zetec!!!

I would:
Run a compression test (Remove ALL spark plugs, test 1 cyl at a time)
Run Cranking Vacuum test
Idle Vacuum test
Exaust Vacuum test (Where you snap the throttle while engine is on, needle should jump all the way to 0 or something like that)
Do an oil change, run a magnet though the old oil, see if you have any metal shavings... (hope not though)
Id also take the valve cover off and inspect everything on it