Idle Bouncing
 

I have read some threads on this, but I still don't have a clear answer. My '84 3.2L starts fine and idles correctly (once warm) at about 850 rpm. However, if I hit the accelerator and then let the rpms drop back down, the idle hunts and surges (feels more like huffing and puffing) for a few seconds within a range of about 600-900 rpms until it settles back to about 850. Idle control valve?? Your collective wisdom would be appreciated.

Seems to be pretty common. You'll want to make sure you don't have any vacuum leaks, but raising the base idle speed will help a bit. Just turn it out a bit at a time until the problem is lessened.

check your fuel mix if it is not a little too rich and i would set the idle at 900 i like it there better

Ivan