engine has very little power on 1991 Toyota MR2

When I start the engine, it has very little power. I push on the pedal all the way to the floorboard it I barely get enough power. I've checked the spark plugs,rotor,and rotor cap and they all seem to be fine. could you please help me diagnose the problem?

Asked by for the 1991 Toyota MR2
You need to initially check the basics. Remove the spark plugs and do a compression check, verify fuel pressure,(perhaps a restricted fuel filter) and check for a restriction in the exhaust (blocked catalytic converter?).
I wonder if the ignition timing is correct or could the timing belt have slipped either of which would cause sever power loss.
Get a friend to press the throttle to the floor while you look at the throttle butterfly at the engine does the accelerator pedal open the throttle butterfly all the way.
I'd love to know what you find.
1 more answer
Umm...are you allowing the engine to reach it's proper operating temperature? After a cold start, the 3S-GTE ECU limits boost to 5-7 psi I believe. Try allowing the water temperature gauge to reach about the half way position before going WOT.