i have a pretty much stock 89 GT (cobra intake mani and cold air is all) and lately when i get on it, well anytime the gas pedal is over 3/4 the way pressed, my car all of a sudden feels like im driving against 500mph wind, the RPMs still go up i just have no power and dont take off like before. Also after driving for a while i can start to smell gas, and the car tends to ping alot at half throttle. please help me find whats gone bad. thanks

That was followed soon thereafter by backfiring under WOT.