HELP!!! Running way too lean, losing power at full throttle

I have a brand new engine in my 1990 mustang and i am having problems with the car already. it is losing power at full throttle and the motor pings. it also running really really lean. i dont know what the prblem is except maybe that it is being caused form the speed density system. i have a bunch of mods on the car that include:cold air intake, 70mm throttle body upper and lower intakes by edelbrock, phenolic spacer, headers, exhaust, h pipe,. Does anyone know whats causing these problems and know if thay can be fixed by simply converting to mass air?

Well first things first what fuel pressure are you running at now?

You added a bunch of air intake/exhaust mods but did you upgrade your pump/injectors at all?

How old is the fuel filter?

Double check the timing as well.

im running at 30 psi. the fuel filter is brand new. I did not upgrade the pump or the injectors. will that make it run more rich? and how about switching to the mass air? will that make it run more rich?

My first question needs to be why is your 90 Mustang running speed density and not MAF?

because the 90' is the year of the body and chasis. it used to be a 2.3 i have a 88' gt motor in it. thats why.

my dads 96 bronco had the same problem, we replaced the fuel pump and it fixed it

Speed density is less adaptable to mods than Mass Air but the mods you list seem OK. The 70mm TB seems a bit excessive if you are running stock heads but shouldn't be the cause of your lean condition.

Check for codes - KOEO and KOER - and see what you may be getting.

How about timing - what's it set at? Too much advance will definitely cause pinging. My 5.0 used to like about 12 degrees - 10 degrees is factory. Don't forget to remove the spout connector when checking timing.

Fuel pump or fuel pressure regulator may be problems, too. Did you check pressure while running?

LOL