Well, first off.. thanks for all of the replies so far. First off, I am talking about the main computer brains. I was doing some additional testing and this is what i've found so far. With an amp meter in line I can see about a 1.45 Amp current draw with nothing turned on. This seemed really excessive so I started looking at the fuse box. I found that by just unplugging the DME relay the current dropped to about 60 mA... which is alot better and much more in line with what I would expect. So I plugged it back in and it shot back up to 1.45 Amps. I then uplugged the 7.5 amp fuse for the DME and the current draw dropped to 1 amp, so that fuse alone took it down by 450 mA's... Nothing else I unplugged made a significant difference.
Ok.. now for the rest of the story... I unplugged the DME computer completely and as suspected the current draw goes down to about 60 mA's. So the current draw is definitley coming from the DME computer.
Now as far as the engine performance goes... The car starts and runs fine at an idle and anything under 3000 rpm's. Once you take it above 4000 rpm's you get motor ping and you can see the air box sucking in on itself. The engine wont sustain 5000 rpm's.. it gets there but then acts as though it running out of fuel or air. So I tried removing the air filter and sure enough the engine runs better and can sustain 5000 rpm's.
But i think all of these things are just symptoms of the bigger problem. I think I have a computer problem that isn't triggering the Variocam system and therefore the timing advance isn't working. It makes total sense that the engine would run well below 3000 rpm but fall on its face above 4000 rpm's.
Again, mechanically i've inspected all of the parts and they all look great with little to no wear. So i'm sure its electrical but I didn't want to spend the $450 on a new brain if that wasn't the problem. I thought maybe someone out there might have a spare brain they'd be willing to part with for just a bit so I could run a basic test. If it is the problem then i'm sure its well worth the money spent to get my car back in tip top shape.
I appreciate all of your help so far and keep the suggestions coming... I may have over simplified this but I took the car to a Porsche dealership hoping the masters could tell me what was wrong and the scary thing was it turned out I knew more about my car than they did and I ended up showing them a few things.
As far as the fuel system goes. I started troubleshooting there first as I thought it was a fuel delivery issue. I even changed fuel pumps and the whole nine yards.. All test show that I have plenty of pressure and plenty of flow so.... that wasn't it either. I feel that i'm close to the solution but was just looking for some moral support I think...
Thanks again.. this is a great site and glad to see it running again.
Mike