no, the imrc just controls the secondaries, the only thing that will do if broke, is not open the secondaries, which results in no pick up in power at 3k+ revs. i have replaced, and moved my imrc, its now on the battery tray. the reason for moving them, is ford genuis idea of placing it on top of a red hot rocker cover, isnt the greatest idea. on the battery tray, there is no chance of it over heating.

if your revs are not jumping up to 3k now you have put the reducer back in, the throttle hang is cured, as for it ticking over at 700 revs, i would worry, mine does.