sounds like IAC, except that if the rpms were going up, the voltage shouldnt be dropping, im thinking its an electrical problem of some sort. pretty much impossible to diagnose over the internet, but if youd like to buy me a ticket, id be happy to come down and look at it for ya
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Chevrolet Camaro - I enjoy beating the hell out of people
http://www.automotiveforums.com/vbulletin/showthread.php?t=68052