lack of power/hot catalytic converter
My '88 manual transmission, 4 cyl. 4runner has dramatically lost power...mostly at top end of each gear but has recently wanted to run in only 1st/2nd gear (otherwise, not enough power to run). At the same time, noticed the catalytic converter smells/feels red-hot. I've run a compression check and all cylinders appear ok and have replaced wires/plugs. Can someone tell me what's going on?