Car is a 1991 pontiac trans am with a 305 TPI and 5 speed. The problem started out of no where. Recently i started hearing a weird rattle come from the exhaust i am guessing because when i would rev the engine it would get louder. The car pulled very strong this morning. I parked it at school for about 7 hours. Got out to it and started it and it sounded different on the inside, louder and more throaty. When i was leaving my school i tried tried punching it in 1st and it hit a little above 3000 RPMs and than it felt like something was holding me back. If i only give it like half or maybe 3/4 throttle i can take it up to 4500 with no problems, but when i tramp on the gas it just hesitates and feels like something is holding me back at around 3000. Can an exhaust leak cause this? It is really bad, like i cant get past 3500 RPMs when i floor it and it is really annoying. Any suggestions onto what this could be considering it happened out of no where? Thanks in advance.

EDIT: Happens when the car is cold or warm, also feels like i lost some low end torque but that is probably because i cannot punch it..

 

If you have a CAT on the exhaust it sounds like it is busted inside. It happens sometimes, especially if you bottom out the exhaust while driving.
I wouldn't continue driving it like that.

 

just a suggestion.... check your fuel pressure.

 

could be a faulty tps sensor or the above stated