I really think your cam timing is retarted.. check the crank zero mark first.. I wouldnt pull the engine yet.. pull the timing cover and check the cam timing again
Would that make me lose half the hp? I was thinking cam lobe's or something. To lose that much hp, it has to be affecting all the cylinders.
A retarted cam will act just like that.. I check the cam 3-4 times when I put them in and it'll be slow reving
