Gaskets leaking oil in several locations, leaky fuel pump, bad carburetor float, Overdrive clutch faulty (NO 4th Gear), no downshift due to low HP ratings.
Nice American luxury, that's very cheap & reliable. However with a curb weight over 4,400 lbs the engines of the time were far less than adequate to propel the beast to 60 mph. 0-60 times are almost diesel-like at around 12-15 sec. Car may perform better with polution devices removed, but will produce pungent exhaust odors & will consume more fuel.
Taking the emissions equipment out makes little to no difference. It was done to the 305 in my '87 Caprice and it performs no better.
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