Hey dude,
I've been admiring your 40 for a while. Nice rig!
My Taurus fan has different color wires than yours. If I had to guess about yours I'd say the black is ground, and used for both high and low speed. The blue is power for low speed. And the brown is for high. A reason for the two browns might be that the Taurus uses solid state relays that dont have the capacity to power the high speed alone, so they run a couple of relays and wires in parallel to the high speed.
To check out how yours is set up, ground the black wire like you did, and power the blue, and observe the fan speed. keep the black wire grounded and now power a brown wire instead and check the fan speed. should be the fan runs a lot faster with brown and black powered.
I run a Taurus fan with my SBC, and 95% of the time low speed is adequate. I have it wired so its on anytime the ignition is on. With a dash switch I can switch over to high speed if it warms up. I didn't use any temp sensors, in order to keep the system simple and reliable. Low speed is a lot quieter and much easier on the alternator too. So I'd consider running it on low if ya' can, until you need high speed.
Also, don't power low speed and high speed at the same time. The fan is not made to operate that way. And also, turning on high speed from a dead stop is hard on you electrical system. Its easier on it to switch from low to high.
I simply have a wire from the ignition switch going to a 3 way switch on the dash, which selects between low-off-high speed. And leave the switch on low most of the time. Then from the switch I have a wire going to a relay for low speed, and from the swich a wire going to the high speed relay.
There could be hundreds of ways to wire the thing but I like the KISS method.
Here is a pic I downloaded, and how mine is wired. I have a few more complex diagrams that include temp sensors if you are interested.
Feel free to ask more questions and I'll help if I can.
Brian.