Update: The car started to have hesitation and surging issues under transient and full throttle almost like what happens when you have a carb with the float set too low. I cleaned and swapped in a known good MAF from a different M104 which helped. I then replaced the IAT sensor, cleaned the TB, and swapped in known good coils in one shotgun approach and now its doing alright. Still not perfect but its acceptable. Surprising that what was basically a dirty MAF and TB could cause such extreme issues.

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Current fleet:
1995 C36
1989 190E 2.6 5 speed
1974 450SLC
1988 5.0 swapped Supra