So after I replaced the parts listed above with no success, I splurged and bought the Haynes manual. It gave the the accurate code description for the '54' I was getting from my dash ECM communication from cam shaft position sensor. The cam shaft position sensor sits directly below the distributor (looks like a flat plastic pancake with a magnetic senor on it and a cable the plugs into connection that leads to the ECM). It cost me $60CAD to replace and about 5 minutes of my time. However, there was a bit of testing to confirm that it was bad. First you have to confirm that there is 5V DC going to the sensor which you can test by unplugging the sensor and using any fluke or digital volt meter. Then if you can confirm the voltage there, plug the sensor back in and then you have to piggy back into the back of the connection using a small but solid wire and test for a 5 V swing using an analog meter. It describes the whole process quite well in the Haynes manual ($26CAD). After I saw a continuous 5 V (no swing from 0V to 5V on a repetitive cycle), I concluded that in fact the sensor was no good and that there was nothing wrong with my ECM. In total, I spent a mere $210CAD (giving my jeep a nice tune up) and now she has been running like a dream! Don't get too freaked out when trouble shooting these babies as the easiest fix may be the right one! I really recommend picking up the Haynes manual and do the troubleshooting yourself. I am no mechanic by any means but as long as you can walk through things methodically, you should be able to at least isolate/identify the problem. I hope this may help someone someday.