Whats Happening???

Ok, I bought a 98 s-10 zr2 and its motor seems extremely week for it being a 4.3. I own a 93 blazer with the vortec 4.3 and it seems an ungodly amount quicker and stronger. The truck had an airraid cold air and gibson exhaust, but that is all for what i know. Is this anything that is unique to my truck, cuz a co-worker has a 03 with a chip and he says he can light up all 4 in 4x4. The other thing is on my way to work the other day i bounced my truck off of the governor twice (92 is a week speed for a governor) and the check engine light came on after the second time. Anyone know why it would have done that? Thanks for your response.
~Gordon

what grade of gaas do you use/ where do you live?