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For a couple of weeks, car has had almost no power.
If I'm light on the gas, will accelerate normally.
If I drive normally, right at 2300rpm the engine feels like it's cutting out/missing and the SES light comes on blinking.
When I let off, after a few seconds to a minute the SES light goes out, and will cruise normally.
The code is P0401, EGR flow is insufficient. I've put in a replacement EGR valve from a junk yard (don't want to spent $120+ for a new one right now) no change. I've checked all the EGR piping, no clogs.
In park or neutral, it will rev up normally.
What could be the problem?

Blinking SES light means you have a misfire. When is the last time you changed the plugs and wires?

Just put in new NGK TR-55's about a month ago. But didn't do the wires.

Chances are that when you removed the wires, you damaged them and now that is causing your misfire. I'd replace the wires.

I agree with Andrew. Good chance it has something to do with the spark wires integrity.

I once had this problem with an '88 Mustang..and because it was only the 2.3L 4 cylinder, the two wires that were damaged wouldn't really let it run.

Consider getting Napa Belden or Autolite Pro wires.

A lot of what you are describing could also be caused by a plugged cat.

If it's the wires, why would it be throwing a code for the EGR flow?
If it's possibly a plugged cat, would it still be able to rev up normally in neutral (4000 rpm) with no stumble or miss?

harofreak00 wrote:Blinking SES light means you have a misfire. When is the last time you changed the plugs and wires?

Technically speaking that is not fully correct. The FSM states a blinking check engine light is the pcm's way of communicating a "possible catalyst damaging condition".

While many of us see this when misfires occur, it could be caused by other items as well.

Yes, with a partially plugged cat, the engine can free-rev properly, and run normally with light acceleration. It's at higher loads and engine speeds that the problem often shows up.