Thanks for the input Bob. I'm kind of obsessively fixed on getting the factory set-up to work, but based on feedback received here have done some investigation of the Lokar C6 kickdown cable product, including a call to their tech line (very helpful gentleman patiently answered my several questions).
I do have some suspicions about accelerator pedal linkage interference, namely, carpet and sound deadener, so am taking your advice to have someone sit inside while I check out the linkage action from below. l already did this earlier to ensure the carb went to WOT (it didn't and adjustments had to be made to that linkage) but at the time didn't think about the kickdown linkage. Thankfully, my assistant is both enthusiastic and local.
The 67 Cougar-Fairlane-Falcon-Merc Intermediate Shop Manual has a write-up (page 7-66, Fig 14 Throttle Linkage Comet & Fairlane with 390 CID Engine) on how to set everything up; it includes the downshift linkage. Must confess, my male proclivity to ignore all written instruction is looking like a contributing factor to this predicament: it seems the accelerator pedal height, carb linkage and downshift linkage are all cleverly related and have to be attended to in a particular order and fashion (as compared to my "eyeball it-fiddle with it-drive it" technique). and, as you have suggested, I have my suspicion that the kickdown linkage components aren't in complete conformance with their 'as delivered' shape.
If one final adjustment effort, this time following the advice received here and the factory guidance, doesn't solve things I'll go the Lokar route. Sometimes repair by replacement is the least frustrating option, especially for that significant percentage of amateur gearheads addicted to shiny new parts (guilty as charged).
Drew's got the 'right stuff' for you to look at.
If you haven't done so, have a pal mat the gas pedal inside the car while you inspect the action of the tranny downshift linkage (KD, kickdown) from underneath after the band adjustment. Sometimes even a hair's is more travel on old KD linkage will get same to downshift. Check too that when the gas pedal is matted, the carpeting under the pedal allows full gas pedal travel both under the dash and inside the carb (at WOT, throttle blades straight up and down) as that also can affect the tranny's kickdown.
Also, it might pay to get new linkage as the KD rod one on the tranny now may be bent....it's been known to happen. Can't often tell unless a new link is set side-by-side with the old one. JMO!
If you really want a do it yourself approach, a tranny gauge is pretty cheap. Just be sure to have the Ford manual data handy (forget what the test PSI's should be for a C-6) to do a diagnostic:
http://www.ebay.com/bhp/transmission-pressure-gauge