When you tested and got voltage on all wires was the iac motor connected?
The PCM looks at position then drives the motor in and out by reversing polarity on the motor windings.With the IAC connected you will get some voltage reading in either direction.
Normally if the PCM is bad it will try to drive the motor in both directions with solid on time voltage in both directions. The transistors are called quad drivers. They are called that due to them being 4/quad set of transistors sharing a common emitter or collector (source voltage or ground) with the control(base)separated. When they fail, they normally short(stay on) Later PCMs use more MOSFETs which normally fail open(off)
If the motor is connected, it would be normal to see voltage in both directions, but it would be pulsed. Think of it as someone with their finger over 2 switches. If you need more idle speed you tap the in button(1 pulse) if not enough you tap it again, till you get the right idle. If you went too far you would tap the out button. So you could see a time when the motor is near where you want it you tapping out,in,out,in an so on. When you first turn the key on, The PCM looks for the position. If it was a little out(normal) it will pull it back till it stops or reads where it wants it. If you have it out of the throttle body it will attempt to close it. Because there is no throttle body to stop it, it runs the pintle all the way out.
If the PCM is bad, It would be on steady because the quad driver is shorting. However before you condemn the PCM pull back the harness cover as far as possible. you need to see if all the wires stay separated as far as you can trace back. Have seen the IAC wires plastic shielding turn into goo making the driving circuit work both ways because the current is shorting to the other wire in the harness. Last time I had seen that was on a Cavalier. They were shorting together in the harness near the firewall right before it went into the car.
Also pull on each wire at the IAC connector. If any appear to stretch, the copper in the wire has broken right where the crimp is made. Very common.
[This message has been edited by cmechmann (edited 11-13-2013).]