I do agree about this car should not go into such a high idle. The Town Car does not and it has a 95 4.6 in it. It has done this ever since I can recall and over the last few years I have replaced the IAC, TPS and MAF to no avail (for other reasons than high idle). The idle was worse a year ago before I switched out my TPS
I went out just now while the engine was cold and pulled the IAC. The car would not start. I plugged it back in and it started at about 1600 rpm and in less than a minute worked its way down to around 600 rpm.
You might try cleaning the throttle butterfly; the back side gets dirty from egr. Throttle body cleaner, like you use to clean the maf. It'll be black, and wipe where it seats.