Save my daily driver, no start, bogging, weirdness. Options

[vwr32]

Well I have a 94 GT MT that has 220 on the clock. Solid car but when I picked it up (gave a buddy some extra suspension I had and took the car in trade) it was a DOG, would bog when starting from a stop, no top end, would not rev past 4-5k. Replaced plugs, this helped a ton with rough idle and starting from a stop. However, still have power loss issues, after two weeks back to having to downshift to 3rd to make it up hills, barely pulling, dipping to 45mph. Basically became the biggest dog ever and the issue came back of it bogging from a start. Other than that it started fine, reliable.

So today, I noticed that if I floored it, it would hit around 4800 rpm and STOP, like a limiter, then slowly drop a bit... odd. It just would NOT go over 5k. So I down shifted (opps) and sure enough it put me over 5k, no harm, but the motor seemed to "loosen" up a bit. Few more down shifts and I was not sputtering and bogging, interesting. Get to the office, shut her down and head in.

Half hour later I come out, start, sputter, DEAD. Nothing, if I pump it I can get it to fire on what sounds like one cylinder occasionally, I can smell the fuel being dumped in, and the loooow rev sputter one cylinder starts really makes it seem ignition based.

So I pop the dizzy cap, nasty, corroded, loose screw, huuummm maybe this was the demon all along. Right now she sits, I could chuck it, but would like to get it up and running again, going to grab a new dizzy at a yard tomorrow, give it a try, any of this stuff stand out? I need some help, I am a VW guy, so I am not familiar with the problems of these cars.

Cheers!