Weird pinging noise in engine.

Hey guys, quick question.
I don't have many mods on my car. I have '92 5.0 LX AOD, with a blue superchip, flowmasters, CAI, and a shift kit. My problem is, whenever I give my car the gas, like, seriously floor it, I can hear a pinging noise coming from my engine. I can only really hear it when I floor it, you can't even really hear it when I am normally driving. Anybody have any ideas as to what it might be? Many people have told me that its probably a valve tap, but i'm not sure. I bought some of that Lucas treatment product that you mix with your oil. It works good, fixed my problem with my oil gauge, but it didn't do anything for the pinging. I thought it also might have been because of the 93 octane that I put in my car because of the superchip, but when I ran it with regular, I still got the same noise. I really hope that it isn't anything serious like a rod knock or something. I will be pissed. Thanks in advance for any input guys!
 
get a timing light and check your ignition timing with the SPOUT out. It sounds like my might have some detonation or preignition. You might end up having to back your timing off a few degrees.
 
the higher the octane, the less volatile the fuel and thus the less resistant to detonation it is. so stick with atleast 93 till you get this figured out.

two other big ideas come to mind. does this happen when it is cooler outside and the motor is not too warm?

and how are your FP and fuel filter doing? you simply might not be flowing enough volume of fuel at WOT to keep from running lean.

good luck.