so im at the track and i go to launch and oil presure drops to 30lbs check engine light come on and i run a 17 second 1/4 mile fluids are good it ruins rough at idel smokes at start.i found a big hose under the oil filter not hooked in its about an inch wide and an inch 1,1/2inch long oil on it.its all stock 1993 touring
my plain of action is to put in my boost gauge, in get a compresion test change spark plugs,airfilter take it to see what codes came on what else should i check?

 

Pull the ECU codes, put the hose back on, and see where that leadds. Don't take it to the track until it's all sorted out.

 

oil pressure drops... CEL comes on... and you decide to finish the run?

 

Also, we can't see the picture in your sig, just some myspace link.

 

Hmm, I'd have never finished the run in the first place. Oil = Life in these cars. you see your oil pressure drop, you should have stayed where you were.

Like said above, reconnect found hose, pull ECU codes, and go from there.