Intermitant lose of power
 

While driving I occasionally lose power, like I ran out of fuel. In 2 seconds it comes back and away I go. Doesn't seem to happen regularly or predictably. If it happened going up a hill I would think lift pump. If it happened when going around a corner, it is always water in the fuel filter. This happens when ever it wants to. I have drained 5-7 drops of water out of the filter and have not opened the fuel system since I replaced the IP 2 years ago (other than filter changes).
Any ideas??

Dang I used the wrong tense in the title and can't edit it. Should be LOSS not Lose.

I'm going to guess IP.