Can anyone tell me what this black round box is on the side of the carb - and is that red wire supposed to be attached? Also I have a vacuum line that looks like it has been cut on the egr valve. Not sure where that's supposed to go, any help will be great, not a lot of resources on the web.

Thanks,
-Eddie

Eddie, the red wire looks like it had been attached to the electric choke.
Can you shoot an other more complete photo of the whole environment regarding the top photo?

Hope these help. I just found another black wire hanging loose by the red one. Looks like it could also attach to the electronic choke. Don't mind my kid - he loves the car.

Even watching the kid brings up my weird acrophobia. Don't let it fall outside the engine bay.
I can't be much of help I fear but I could imagine that it would be a vacuum supply for the brake power booster or some sort of vacuum switches sitting in your dash board. My T-Bird has quite a few vacuum operated sliders that use air insted of cables.

vacuum hose is on the water control valve for the heater.turns off and on the water to the heater core.Goes to heater control on dash. Red wire is choke heater, goes to alternator , hot when running to release choke. Best guess I can come up with, all my advice is free, no warranty expressed or implies!! Hope this helps, Henry