Have a 93 Isuzu Rodeo 3.2l in the morning it is very hard to accelerate later in the day it doesn't seem to be quite as bad but still happens?

check the fan belts, they are manually tightened on the rodeos.

Also the voltage regulator can be going out but I seriously doubt that. When they do go out they register no charge at all at 99 percent of the time

Are there any Isuzu dealers in America anymore? I thought they all left. If you have one still, go to it.

ATTENTION!! Do not run the engine if you do not want to have to buy an engine!! I just solved this problem with my own 95 Rodeo the problem you are having is common on 95 rodeo with 3.2 L engine. Failure of the hydralic timing belt tensioner will allow the tensioner pulley to knock against the top of the tensioner unit ( inside timing cover lower left side of crank pulley little cylinder looking part ) held in by 2 bolts when you take it off if you can depress the button its bad . Dealer has part for $110.00, so go to auto zone but they dont have it listed for 95 rodeo have them look up timing belt tensioner for 95 honda passport $76.95 takes 2 days VDO (Vendor Order only) not a very hard job have fun dont forget to change the timing belt and water pump for good measure after the complete job is done you should not have to worry about it for another 70,000 miles.have a good day

I would change the trans flter, trans fluid, and have the linkage on the trans adjusted.

first check the fluid level and quality

Have the slave valve checked, it might be bad.

It seems that the trans is slipping. The smell is from excess trans flood. If Trans is over filled, it can rupture seals and cause leaking that can get on the exhaust and burn.

i would say the trans u put in is bad if it were used i would contact the person you bought it from to grt another one