I had a few minutes to run down to the barn and do a quick test on the frequency valve. In my mind, I had ruled it out since the O2 sensor is disconnected. Low and behold, it is NOT buzzing with the key on. I did not have enough time to measure anything electrically, but I did lay my hand on the relay (real scientific, I know

) under the seat, and it is clicking.
If the valve has failed, or is not receiving a signal at all, this would create a lean mixture, or 0% duty cycle, correct? It's been a long time since I've been this deep