Well guys I was right on the money. The cam was too retarded. Causing the engine to be constantly in a bind. Reset cam timing and now I have power for days. What happens is an intake valve stays open too long. Causes you to loose power on the compression stroke. It was close enough to allow the engine to run until high rpm's then it leaks out the intake valve.
So I guess jr. might actually know a little something after all. Though I must admit Uncle Bob did mention timing and so did blackcadillac. I was hounding on the idea of cam timing the whole time was just looking for an easier way out. But thanks for the many ideas. Later dudes