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Folks... I am pinging at WOT in my 86 L98 (114k miles); The motor has a few bolt ons- (Borla Cat-Back, gutted cat, K&N filter, AFPR-45 psi), with the timing set to factory spec(6 Degrees). I run 92 Octane fuel. The only thing I can think of at this point, is I am not running a hot enough of an ignition, and subsequently, I am not burning all of the fuel. I was considering the Davis high voltage cap & rotor, Davis ignition controller (more dwell), some platinum plugs, and some Moroso wires to connect it all. This car runs perfect, idles perfect, and only seems to be affected at 75% throttle to WOT.
I am running the HyperTech coil/cap/rotor (53kV) and TPIS wires with cut-back spark plugs gapped to .045" and base timing at +8deg.
After I upgraded my ECS module this setup works well with the stock CalPac or with the HyperTech Stage II unit.
If you can "hear" ping maybe your knock sensor is not functioning properly. In my case I saw knock counts on my scan tool till I upgaded the ECS per Gordon Killebrew's advice (ref on my site).
Of course I'm running a 160 deg stat and have fuel pressure adjusted for my mods to minimize the chance of knock counts.