Have you replaced the fuel filter in the last 26 years? Many people just never get around to putting a new on on and the engine can begin to starve for fuel if it is starting to get clogged. Idle and normal driving will be OK as enough fuel passes through but when more fuel is required the clog blocks it.
No, an open filter element will not cause it to not run. It does nothing really, no more power and no better running, just the added sound of sucking air. If however you managed to screw things up and air is by-passing the sensor plate somehow, that can cause a no-run or even engine stumble.
Stop racing corvettes. Post what you like but I have owned a few corevttes and even the bad one (spelled slow) will eat up a 86 Gli 8v and spit it out, unless very very modified.