Sorry guys....this has nothing to do with cruise control, although it does look almost the same as the cruise control speed sensor. Actually, is IS a speed sensor, but in this case it's simply an emission control device...or rather, one component of a system called the Distributor Modulator System (sometimes referred to as the Dist-O-Vac system).
This NOx setup only allows the vacuum advance to work under certain conditions. When the outside temperature is below 60 degrees or so the vacuum advance is allowed...when it's above that temp, the vacuum advance is only allowed when the vehicle is traveling around 30mph or faster. The hardware and wiring to do this varied from '70-'72 but basically you have a temperature sensor on the driver's door pillar, the speed sensor (pictured above) and a control module with a solenoid valve for the vacuum (found on the inside cab firewall by the steering column). The control module switches the vacuum source on or off to the vacuum advance depending on the temps and/or speed. This emission system is a 'tack-on' (meaning it can be easily removed) and was standard on some cars, Rancheros, Econolines and F-100 trucks with an automatic transmission and a 240-1V, 302-2V, 390-2V or 351-4V.
I've got a special 26-page troubleshooting manual on this setup that will be scanned and posted to the site in the near future. Until then, here's a scan of the setup:
![Image](http://www.fordification.com/board2/Dist-O-Vac.jpg)