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That sounds like a classic case of the coolant temp sensor going bad. The gauge and the ECU use different sensors. If the ECU sensor goes bad, it usually fails in a manner that results in the ECU thinking the engine is perpetually very cold (thus it runs very rich). For the RWD bricks the sensor is a $40 part and fairly easy to change out once you get the intake manifold out of the way. No idea how involved it is for the 850. Regardless, the ECU is the last thing to swap out... not the first.
If an injector or two had failed, you'd (probably) have real trouble even keeping the car running.
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alex
'89 765T, 172,9xx mi
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