something tells me you did not align the camshaft with the crankshaft correctly

timing is way off , exhaust valve may opening during the compression stroke

or the intake valve may be opening too late , not enough air / fuel mixture entering combustion chamber

 

Thanks for your reply!!!
I've had several people tell me that it could be the timing. But what I don't understand is that it cranks good, idles good, and no valve rattling or anything like that. I would think if the timing was off to cause such a reduction in horsepower, it should be doing one or all of these wouldn't you think?

 

NO! as long as the engine cylinders are receiving a air/fuel mixture , the engine will idle smooth

the computer can compensate for ignition timing , but only to a degree

did you align the camshaft position sensor properly

 

Okay. I did not do the installation myself so I really can't answer that question. Yesterday, one of the mechanics here in our shop at work went out and uplugged what he calls the "knock sensor." He had a problem with loss of horsepower on a truck he previously owned and while working on it, he had accidentally broken off the sensor. When he got it fixed, that took care of his horsepower loss. The only difference that made in mine was the "check engine" light is now on. Can't tell any difference in the horsepower. Is that what you're calling the "camshaft position sensor?"

 

possibly the knock sensor

you will have to have the code(s) scanned

i am betting on the camshaft position sensor ( or worse the timing is off )

 

I'll run it by Autozone today and let them read the codes and see. Thanks a bunch for your help!1!