A bit of technical background first: the car I have hacked was sold in US as Ford Aspire, it was made in South Korea and it's Mazda design with some Mitsubishi components. Not your average F150 exactly

When I open the hood, I see a distributor like the one on the picture

If I would have decided to break this distributor and look inside, I would see something like

That tin wheel spins with the crankshaft and that's what make the CKP signal. If I would keep taking it apart, I would see the actual sensors and the other wheel - the smaller wheel is in charge of CID signal.

Does not really matter what CKP and CID signals are. We only care that even while the car has a 12 volts battery, most of the sensors and the stock ECU run on 5 volts. Somewhere in my harness where are two 5 volts wave signals which look like this:

That's it. We can wire this signal right into the any 5v tolerant microcontroller. Just to be a bit safer, we will put a 1n4001 diode between the harness and the microcontroller.
So, let's get something done. Let's take a STM32F4DISCOVERY dev board - that's a $15 board based on some stm32f4 microcontroller running at 168MHz.

That's actually a lot of cheap computation power.
As is, microcontrollers are not exactly super friendly - ChibiOS/RT would help us, we will let it take care of the the lower level. We will use serial-over-usb to output data - so, mini-usb cable would be used to flash & power the board and the micro-usb cable would be used for serial. If you made it to here you probably know what serial is.
It's not much code, it's quite self-explanatory:

(the code is a picture simply because I wanted to keep the coloring)