I bought a 92 SHO about four months ago, it has 137k. It ran great until this morning, I touched up a few rust spots under the hood and left it open to dry. A water pipe burst above it soaking the engine (I mean EVERYTHING under the hood dripping wet). I checked the air cleaner and oil for water was fine, it started first try ran terrible for a few seconds then seemed to idle fine. But when i tried to drive it it had no power sounds like its on 5 cylinders. I know compression is good and it would have to be getting fuel or it wouldn't run at all, Is there a item in the ignition system that i need to take apart and dry, (im new to these motors) or did that h2o fry something important. Any ideas on where to start would be greatly appreciated. Thanks
Check to see if the plug wells have water in them, take all the wires out and dry them out.