Can anyone please tell me what the Throttle Position Sensor does?

I assume it sends a signal to the computer. But what does the computer do with this
information? Does it adjust timing? Control the fuel injectors?

Also, if my Throttle Position Sensor is out of adjustment, how will it react on the motor running and performance? lastly, if the Throttle Position Sensor was out of adjustment when I did my base timing will the base timing still be incorrect?

 

Timing and TPS are seperate systems. While both can affect performance, neither affects each other.

*my bad, I was thinking of base timing..

If the TPS is out of adjustment it will cause performance to suffer. Some adjust it and get better responce, but I'd rather just leave it at the stock setting.

To adjust it, read up on these links.
http://sethirdgen.org/tps.htm

 

The TPS simply tells the ECM what position the throotle plates are in. The ECM uses this info along with a bunch of other stuff to decide on timing and the injector pulse width (PW).