Ok this is troubling me. 92 prelude...egr valve code goes off. drove it anyway for about a month. was getting the usual symptoms of a bad egr valve but still ran decent. parked it for the weekend. monday morning it started right up but...Very shaky engine, loud knocking and rich fuel coming out of exhaust. with blue smoke. very very little power, cant even reach 40 mph. loud pops, boggs out when really accelerating.
so i took it to the shop, i tested compression and its good. took of egr valve and cleaned it really good and put it back on. all my plugs were really black tipped and smelled like gas and oil. i didn't have a way to go buy new plugs so i scrubbed them with break cleaner and a wire brush until they looked cleaner. Runs just a very small amount better. I need to sell this car in 6 days but need to get it running. anyone have a clue what the problem may be??? Thanks for and input

 

O2 Sensor...

 

My bad, let me expand... First of all, it sounds like you need all new spark plugs, so just bite the $5-10 they cost and replace them. Also, new wires wouldn't hurt, nothing fancy, just replacements. But ALMOST ALWAYS, a sure-tell sign of a bad o2 sensor, is bogging during low rpms, running rich, cutting out, smoking, etc. The o2 sensor detects the proper mix of waste going out of the exhaust, and if it is clogged up, will give incorrect readings causing all of this. If for some crazy reason this still happens, the distributor is the other main reason for this happening (ignitor ICM, coil, etc). From the sounds of it, you haven't opened the dizzy up to check the cap and rotor, which are most likely worn. Last case scenerio, cam or crank sensor, but that is almost NEVER it. Start with the simple things.

Plugs/wires, and o2 sensor.