Most code readers don't play very well with a PSD. There are a couple out there that folks say work, but if you really want a good diagnostic tool, AutoEnginuity is the ticket. The software and hardware will cost you about $450 delivered (you must have the enhanced Ford version). It will read ALL codes, run onboard diagnostic tests, ie KOEO, KOER, Cylinder contribution, etc, just like Ford does. It also can read real time data on all your sensors and data log them for later scrutiny and or graphing. Several members here have gone this way (including me) and I don't think anyone has been disapointed. There may be other tools out there that will work and are cheaper, but I don't think any have the capabilities of the AE package.
http://autoenginuity.com/
http://autoenginuity.com/