Ranger power loss, bogging, no acceleration solution

Old faithful Ranger started having a strange problem.  I would be driving or sometimes just idling and suddenly without any warning the engine would lose power, stumble, and have a somewhat strange sound, I can only describe as kind of hollow as if some valve had opened like maybe the EGR. (SEE Update below)

There was no rime or reason, it might happen at any time. At times it would last seconds and then might last several minutes next time.  Pressing the pedal to the floor did nothing.  If it lasted longer than a minute, I might pull over and check under the hood.  I shock wires, tapped devices and said many fine curse words at the engine to no avail.  The only thing I did notice was what appeared to be burnt oil smoke from under the engine, since I had a small exhaust leak, I thought the oil smoke was attributed to it and this "opening valve noise" I heard. This went on for three weeks.  Sometimes it would not reappear for days.

A long story short, after much research and head scratching, I begin to suspect the catalytic converter was plugged or would become plugged while driving (maybe something loose inside).  At the next occurrence which lasted awhile, I shut the engine off and sure enough that light oil smoke was present.  I went quickly and looked under the Ranger and to much my surprise the converter was GLOWING RED HOT.  I had never seen this before.

Time to order some new parts.  Below is a few video to get an idea of what it looked like.

The truck had always had a performance issue, no doubt this was there for some time. There are three types of fixes.

You can buy a universal converter that welds in, cheap at about $38.

You can get the full OEM style (2 types) unit which includes the exhaust pipe from the manifold to the flange for about $108 on Ebay and some locations.

Note that they come with and without and air tube, check yours for what you need.  Since my pipes are old AND I have trouble with thin pipe walls (which leave little to weld to) I will be buying the OEM style replacement.

UPDATE: Found the tunnel/port from the valve to the inner manifold choked.  Use a McDonalds 5/16 straw to check for blockage (actual hole is about 3/8) if it will not pass thur (don't let go) or comes out filled with crap, you need to clean the tube. This takes some time, but when finished the straw should smoothly slide in and out (it is a straight bore).