Check the operation of the kickdown rod. Make sure it is working freely and the spring hasn't broken. Check for vacuum leak at the tree where the modulator vacuum hose connects to the manifold. A modulator valve doesn't have to be leaking to be defective. It may be sticking. You may have to remove it and check with a vacuum pump for proper operation.
If all of those things are ok you may have a sticking governor. You may have to remove it and check the counterweight springs for proper operation.
This message has been edited by Rhillebrand on Oct 23, 2008 6:21 PM