The engine just stops rev'ing any higher - its exactly like its hitting the rev limiter (which is set at 5800 - tried setting it to 8k but it made no difference.. btw)
I replaced the Ignition Control Module (on the passenger side of the car.. on the fender) with a new one from O'Reilly's and it ran like ****.. backfiring through the intake, wouldn't run..
Pulled the Spout and it ran fine (up to the 3500rpm mark)
Set the dwell to 20. Also in options check out the various ignition retard and cut values and the fuel cut values. Something there could be out of spec.