The '82 Owner's Manual says, (I think, from memory) that the CC will not operate above 76 MPH, and a few years ago, when I was driving through Nevada where one can actually use a CC at those speeds, I found that the manual was correct. If set while above 76 MPH, it will set to 76 MPH only.
Checking a handy 1983 Owner's Manual, it says 78 MPH is the magic number. Same for the '84 OM.
The CC will drop out if the vehicle speed drops 6 to 11 MPH below setpoint. Scared the bejesus out of me: I was on CC, and gaining serious elevation in Nevada's high desert (on my way to Caliente, NV ?), CD cranked up, black smoke pouring out behind me, not another car for 20 miles, when suddenly the engine like, dies. Oh, no!
After the panic attack, it was only the CC dropping out. Apparenty, I'd found a grade at that altitude that the 80HP LD28 couldn't hold 65 on.
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BTW, there's a typo on the ASCD schematic (pg EL-139 in 1982, EL-151 in 1983). There's a spurious ground connection point listed to the right of the "Inhibitor Relay (A/T)" wire to the "Stop Switch". Cross-checking with the ASCD wiring diagram a few pages on (as opposed to the wiring schematic), no such ground point is shown, and it's a dead short circuit if it was actually there.
The 1984 FSM (pg EL-138) has that ground point eliminated, so I guess they figured it out eventually

The 1981 FSM (pg EL-128) does not show that ground point either, but then again it also doesn't show a clutch switch. Apparently, in '81 there was no clutch switch for the ASCD!