I'm starting to think you lost the ground, not the hot wire. Check them with a test light but hook the test light ground some place else and see if it lights up.
I know a lot of guys use rtv silicone like that but I won't anymore. It can come loose and plug up your cooling system (I've had it happen). Get some 'Right Stuff', it won't come loose and you won't have any leaks.
Here's the one I got. You can order on line too if you don't have a store near by.
http://www.harborfreight.com/cpi/ctaf/displayitem.taf?Itemnumber=94346
I just got a oil separator and barbbed fitting from Harbor Frieght for $14.00 so it can hold more oil. The inline fuel filter I put on several days ago already had oil in the paper and that's from easy driving.
When you are reving it up are you holding your foot on the floor? If you are then it's hitting the rev limiter. You're not supposed to hold it down, just a quick stab and release is all.
Extended servise plans are a waste of money. You're gonig to pay and pay and pay for it and if you use it at all it probably won't cost as much as you have already paid in. They are just another way for the dealer to make more money off you.