Sounds to me like you have lost a cylinder. Check compression, it could be a burned valve or even a blown head gasket. Checking compression is the first thing to do!
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89 LX Coupe
306, 10:1 compression, ported 351W heads (2.02-1.60 valves), Victor Jr. intake, 750cfm double pumper, MSD ignition, 1 5/8" full length headers, Flowmaster 2 1/2" American Thunder Cat back system, C-4, 3500 stall, 4.10 gears, 5" Auto Meter Shift Light
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