Just my two cents.
I bought a 99 montero that had been sitting a while. It had a similar issue. idle bounce. Once the vehicle warmed up though the bounce pretty much cleared up entirely. From a cold start the idle would go to around 1200rpm and slowly drop as it warmed up as it should... but once it got down to about 900rpm or so this idle bounce would start.
I checked so many sensors one by one. Of course the IAC was early on that list. I got on the phone with an engineer in Texas who rebuilds IAC motors and computers for these Mitsubishi's and a few other manufacturers. His technique for testing the resistance of the IAC was to test from the center pin to the left and center pin to the right on each row. Then compare that number to the resistance on the outer two pins of each row (skipping the center pin). The outer pins resistance should be roughly double. These can also fail mechanically but apparently this is much less common.
I tried a new IAC anyway just to be sure and it didn't help at all.
In my case it ended up being a MAF sensor. I tried to go cheap and get one off ebay but it too was off (cleaning didn't help). Ended up with a rebuilt one and it works perfect.
Check your fuel trims to see if a clear pattern presents itself. My old MAF was stuck reading lean causing extra fuel to be added and thus an ugly bounce. Fuel trims got a little better under load. Points to a vacuum leak but I ruled that out.
Maybe this helps or maybe just incoherent gibberish.
Either way best of luck!!
Ah, this is actually a great point. I've been focusing a lot on the IAC as it seems to be something of an issue on these platforms but I hadn't thought to check the fuel trims. A MAF issue may actually make more sense in my case now that I think about it. Mine feels more like a miss at idle than any kind of idle surge (there's no discernible change in RPM according to the tach when it happens). I'd ruled out a vacuum issue with a smoke machine and the ignition side of things is new, but a MAF reading incorrectly could definitely do it if it was adding too much ST fuel trim. Thanks for the heads up on the ohm readings too, I'll have to check that tomorrow as well!
Sounds like Painted Mountain may be on to something. I doubt the IAC would be that "off" at the readings of 44 ohms, particularly if the outside pins are roughly double what the inside-to-outside pin readings are. Mine was about 44 ohms as well. I cleaned (carefully) the passages in my throttle body and reinstalled my old IAC and left it alone (95 SR with the 3.5 DOHC). I too would be looking more at the MAF since it has so much control over most aspects of fueling when the vehicle warms up.
John B.
Agreed, I'm definitely going to check it now before I change anything.