Well its an 88 iroc with a 305 tpi and a 700r4 tranny. Heres the problem anything under half throttle range you feel the car pulling and accelerating nice but when you pin the throttle it just revs up but the car isnt going any faster it actually goes into like a cruising mode... Like it just slowly revs up but its not going anywhere. What would cause this? I figure the trannys blown.

Does it happen in all gears?

It did it earlier today. I was doing a burnout then pinned it and it kept spinning but it was like just reving up and not going anywhere like a v6 4th gen would have passed by me from how slow it was going. Like it dies as soon as you gun it. Then later i was getting onto a freeway and i gunned it and at like 60 it did the same thing sooo..... idk i guess those would be different gears. When i give it anywhere under half throttle it pulls great but as soon as you gun it it does the same bullcrap.

My 2nd gen used to do that but if i would gun it with the car actually in gear it wouldnt do it. It was cause it was running super rich so the carb would just flood it. I have to check if this one does it.

sounds like you have a new tranny in your near future...have you checked your tranny fluid lately?

Tranny is full that's the first thing i checked...