So I ve had my car running for an entire 10 miles before more issues...

Recent work : Accel opti and wires, NGK plugs, GMPP water pump, GMPP LT4 timing set, fuel filter, intake gasket,etc... Before i got it, it seems to have had minimal maintanence, so i am assuming the tranny filter and fluid are still original...

Last night Igot an itchto floor it after turning a street corner (so it was prolly in second) - it revved up to about 5000 rpms, then i heard a poping sound somewhere, and the tranny did not shift until i let go of the gas pedal... i drove for about 3 miles normally (at about 45mph), it shifted, but i thought that it was starting to run funny... I stopped for 10 minutes, restarted again and drove home for another 3 miles (at about 35 mph)...

it progressively became worse, bogging down and hesitating, doing kangaroo-jumping when given gas, and not shifting till higher rpms than normal... when i was almost home it got real bad, but it made it back... when i turned it off i saw some smoke inside the cab, probably coming through the shifter console openning from the tranny...

first i thought that i probably blew a line, so this morning i looked for leaks and checked the fluid - it all looks fine, although the tranny fluid looks not bright red, but kinda browninsh and smells a little burnt (but not that bad)... drove it (while it was cold) around the block, still has hesitation and serious lack of power...

so what could it be? plugged up filter or lines? torque converter? burned up clutches? what else? any testing i can do to narrow it down?
is there any way to diagnose with an aldl cable - if so, software recomendations please...