Little history. 1989 350 tpi stock with 148k miles. Transmission was rebuilt about a year/1k miles ago. It does have a leaking exhaust manifold that I need to get fixed especially since the days of tops off/windows down is about to end. I replaced the injectors about 7 months ago with bosch IIIs.
The PROBLEM. When I jam my foot into it it will take off then sometimes after taking off it will rev up to 5k with no power going to the wheels. It never does it when launching but if you go WOT from the line it loses power but if you take your foot off the gas for a second and rejam it down it seems to hook up all the way through. Is the a problem with the trans/converter or did I mess something up with the injector replacement?
Maybe a gasket not seeled completely on the plenum?
Thanks for any help.

 

You might want to check the TV cable adjustment (there are steps on here somewhere if you don't have the shop manual). Is the trans fluid still nice and red? If it's dark and burnt, you may have a bigger problem.