Food for thought: 1993 2.3Ls have a crank sensor to tell the EDIS to fire.
Did you move the crank sensor to install the new belt? If you did, you were supposed to use the realignment tool (plastic tool from OTC for around $18) to get the sensor gapped correctly.
I didn't move the sensor, when I did mine. Mine wasn't shredded, but not in good shape. I just cut the old belt off, moved the crank sprocket guide (you can't take it off, without removing the sensor)(behind the sensor), sprayed some silicone spray on the belt (to let it slide past the sprocket guide), and installed the belt (per the installation instructions in my repair manual). The power picked up a bit, but didn't completely solve the problem I was having.
The 1993 2.3L (VIN M) engine has a special timing belt preloading procedure, because of the EDIS. On a normal 2.3L, you just preload the drive side (where the tensioner is) and be done with it. The 1993 model, though, requires both the drive and coast sides of the belt to be tensioned. The 'thick' Chilton manual, I use, has the whole procedure. That way I don't have to blurt it all out here. If you have any other problems, send me a pm.
Hope that helps.
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