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Definetly pull the codes, and if nothing comes up (you should get a code 11 if it's good, which is the pass code), run it hard and then pull over, immediately get out, and look under the truck. A clogged cat will be glowing quite obviously.
I'm suprised no one else has piped in yet, but I think the Cats are the culprits.
If you have a digital thermometer, run the truck for 10 minutes then check the temp of the first cat, then check the temp of the 2nd cat, and if they're more than 25 degrees difference in temp, then one of the cats are bad.
Where do you live? Cuz if you don't have to worry about emissions, I would cut out the cats knock out their guts and weld them back in. Even if they're not the problem it will help out your gas mileage.
It sounds like the cats to me also. I had this happen to my truck, and when mone clogged, I lost all power from the engine, and 30mph was about as fast as it would go.
I had what sounds like the same problem. My cat was plugged solid. I run a straight pipe now to the muffler, and it runs great, lots of grunt too I dont have to worry about emissions here so I have no use for the cat.
Hey guys. So I got the clutch finished today, and the truck drives great. I have tons of power, so I don't really think the cat's are bad. But when the 2 1/2 feet of snow goes away I plan of changing the exhaust anyway =)