High rpm miss?
 

Drove my maverick today and it ran strong until about 4500 and on. Had a nasty miss to it. When i got back i raised the hood and seen water all over the engine and everywhere. Also had this choking smell to it. What caused this? Do you think that the miss was related to water on the distributer?

Distributor, plug wires OR coil. You probably have a leaking hose or radiator cap. That smell is probably hot water/antifreeze.

Burning coolant smells something fierce!!

I second tmoss! Misses are practically always ignition problems. I have an msd-al6 and a jacob's coil and I EAT caps/rotors like 3 a year. When they are really burnt out, I start to get...drumroll....high rpm misses!

The coolant leak should be your first priority though. You dont want to have a blown gasket and have coolant getting in the oil or even the cylinders! Nothing good can come of that.