Can old spark plug wires that lose insulation properties and spark between each other cause engine power loss?

I installed a new engine, and used the same spark plug wires, not knowing how old they were. I changed my oil at 500 miles, and noticed lately that there was a severe loss of power. I saw sparking between the wires and towards the nearest ground. I figure this is because they're old. Before I go to the Parts store, is there anything else that might cause this loss of power, or is this the likely cause. Timing is perfect, all sensors are new, check engine light not on. Distributor making contact. EGR seems a little noisy, but not enough to cause a problem like this. Also, when injectors were bad, check engine light came on before, so I don't think this is a possibility. Any thoughts?Can old spark plug wires that lose insulation properties and spark between each other cause engine power loss?very much so. you will have dead cylinders (misses) in the engine. you will smell the unburned fuel as it gets worseCan old spark plug wires that lose insulation properties and spark between each other cause engine power loss?Yes, they begin to jump sparks into each other and other metal they contact I would definitely change the plugs and the wires. you will be surprised at the difference.Can old spark plug wires that lose insulation properties and spark between each other cause engine power loss?yep major powerloss and missing fireCan old spark plug wires that lose insulation properties and spark between each other cause engine power loss?YES the sparks you saw mean no spark inside the cylinder so you are wasting alot of gas-at 2.50 per gallon you can easily afford GOOD wires

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