Old spark plugs have nothing to do with frying the ignition coil. the coils secondary voltage creates a high voltage that jumps the gap (insulated part that attaches to plug and plug ground) it does not back up current to burn out a coil.
I think your problem is either in high voltage cables or in the ignition coils. Since you have two ignition coils for 4 cylinders and missfire in one, the problem is in the cables.
Temperature can cause damage to the ignition coil. Temperature which is above 150 degrees Celsius can cause a great damage to it.
I had a problem with my 1999 silverado bacause of a faulty fuel pump it was causing my truck to cut off after running for a minute or two. After getting under the truck and listening to the fuel pump whine I was then able to determine that the pump was in need of replacement. The truck runs great now that I have replaced the pump. I didn't know what to do for my truck to get it running right so I replaced ignition coils, control modules, and even straight wired my ignition so the relay's wouldn't cause my truck not to crank properly.
I just lost my 1996 achieva due to engine fire, GREAT CAR, it will be missed. It was the 4 cylinder 2.4L engine. 5 speed stick. I was having a misfire on cylinders 1 and 3. My ignition coils were bad. Ignition coils are found just under the engine cover above the spark plugs.
Here's a great video showing how to remove and replace the ignition coils. Your PCM will need to be repaired at the same time: http://www.youtube.com/watch?v=QWUduwyJYCY
I had a similar problem. My solution was to replace the distributor's stator - part of the breakerless ignition. My stator's plastic housing had cracked which caused an intermitant shorting of the ignition system.
Does it have spark?
I would think so as not all the fuel, containing a great bit of carbon, is fully combusted.
Likely Culprits: Bad Coil. Bad Ignition Control Module. Great Resources:
Ignition Coils and Ignition modules are trouble prone. Heating/AC door motors in the dash are common failures. From there they are what they are 1990's GM product. Toyotas have less trouble but all in all you OLDS will be cheaper to run, service and repair
If your car is running poorly it is more likely the "lean burn system" located in the air cleaner. This is an over done electric ignition that after 20 years is probably shot. NAPA sells the replacement module for $135.00. A MOPAR electric ignition conversion kit #P3690426 is about $200.00 and will fix your problem for good. Don't go into the carb until you try the ignition. I did and it was the ignition system which I replaced and it runs great with the kit.
From what I read is that Nikes and SPikes are very good running shoes. I personally think Nikes are great for running. and it is said that spikes are great for hardcore running.