When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.
my next thought would be fuel related. How old is the filter? pump?
Check the fuel pressure... it should be ~43 PSI at idle, then rise as the RPMs rise. If you see it drop off, there is your problem.
The gauge is obtainable your the local Autozone for under $40.00. It screws into a port on the right fuel rail - looks much like a large tire valve.
If you want to observe whilst driving, tape it to the windshield and gently lower the hood. The hood more then likely won't close over it, so choose smooth roads! You may want someone to watch it as you drive, or whatever.
Could be a weak or erratic injector. How high is the mileage? You could run a couple of rounds of injector cleaner through it and see if the behavior changes. That's a relatively cheap test.
Also, you should try to find a shop in town that has a Snap On engine scope. They can look at the spark pulses, duty cycles of the injectors, etc. in the problem rpm range. Gonna cost you $70 to $100, but that's a heck of a lot less than the money you've thrown at the problem so far.
Again - at what RPM does it start to break up? The ECM will allow so many RPM before it steps in and starts to shut things down. My '96 starts to break up around 5600 RPM.
Rev limter is about 5800rpm on stock LT1. PCM stop the injectors when rev limit is reached, will reactiveate them when rpm drops. If you keep the engine in the same high rpm condition without backing off after hitting the limter, the engine will cut in and out as the limiter cycles the injectors.