Clutch issues-it's weird...
 

In 1st and 2nd I can floor it all the way up to 5 grand (dunno if it can go to redline, I never redline the engine) but in 3rd gear and up at WOT as soon as it hits 3 grand it slips and revs freely... also, the friction point is all the way up at the top of the travel point. Any ideas?

what do you mean when you can floor it in 1st and 2nd? in gear? if you are in gear and it slips like that then yes new clutch, but check your hydrulics first. and yes redline the engine, it needs it to blow all the junk out.

It doesnt slip in 1st and 2nd because its easier on the car, less load. In 3rd the engine is having to strain much more and the car isnt accelerating as fast so it slips. i think I put that into words correctly. From what it sounds you need a new clutch. Probably wouldnt hurt to get a lightweight flywheel while your at it if you have the $ to spend, if you havent already gotten one.

And a tranny rebuild while I'm at it... I gotta save the money first; good thing it's not my daily anymore

WHOOOOOOOOOOOOOAAAAAAHHH!!! Before you go changing the clutch, or any other big work, change the clutch slave cylinder. My car did exactly what you describe yours doing. I changed the slave cylinder (4 years ago) and the problem has never returned. For whatever reason, the slave wasn't allowing the fluid to return quickly enough and was causing the clutch to re-engage slowly. Change the rubber flex hose to the slave while you're at it. Under $50 for both parts.

I agree. Both master and slave cylinders are a good thing to change anyway, and at a low cost its better to go ahead and do that first to be double sure that the clutch is the problem.

Touche. I hadn't even considered the cylinders. I'll try and get that done this week and see what happens. I mean hell, the car's got 200k on the chassis and Lord knows if they've ever been rebuilt. Good call

Alright, I never got around to rebuilding the CMS, but I did notice that the fluid level keeps getting dangerously low every couple of weeks or so. I left it sitting for a week and drove it today, and noticed that the fluid was almost empty. It doesn't appear to be leaking anywhere, though.

If the clutch fluid is disapperaring, there's a leak somewhere. Unlike the brake master, which can leak into the brake booster for an "invisible" leak, the clutch fluid has nowhere to hide when it leaks, as the leaks are always external.(Assuming fluid loss. They can leak internally, too, but with no loss of fluid.) Have you run your hand around the slave cylinder to check for the leak? There are two bolts holding the slave on. Disconnect them and examine the slave all-around. You don't have to disconnect the flex hose to do this. DO NOT push on the clutch pedal when the slave is unbolted from the bellhousing. You'll make your life much easier by changing all three parts of the hydraulic system at the same time, if you have a leak.