I noticed that when my car is cool it will take off like a bat out of hell but when it warms up i lose that power any thoughts on this fellas.

 

That phenomenon is a natural occurrence. It's referred to as 'heat soak', and it is this warm air that people try to combat with the likes of Cold Air Intakes, and other performance breathing mods. Do a little Googling and there's a wealth of info on it. It applies to all vehicles.

 

if you have a VE motor then it's probably a bad knock sensor

 

Quite true. I should have mentioned that as well, considering I got a new Knock Sensor only last week. I haven't installed it yet though, so I can't say if the butt dyno felt a difference by way of replacing it, but I hope it does.
The only reason I knew mine was bad is because my ECU threw the code.

 

Had same problem with another car of mine sputtering vct went out on it oil light would be on while idling full oil tho. Ended up grinding my rod bearings put new ones in the problem was i wasnt thinking of the crank ended throwing a rod.

 

i was told that if you unplug the knock sensor your car would not sense a not so it would not retard the timing so the person said. you would gain power or keep same power at higher rpms

 

you will lose power because if the system doesn't sense the sensor it retards the timing.
you will keep the power above 3k because the sensor is ignored at that point anyhow