a/c condenser only going half speed? I have verified the electrical has proper output, but not sure why it will fire on all cylinders. The internal house fan works fine just not generating cold aire.

One of the components to the outside unit sounds like they are going. Call a repairman and have him check all components out properly to determine which is not conducting juice properly. You can do all the guessing you want about why it is not running full speed all you want until all the components are properly checked out to see which is the bad one.

Possible the capicitor is going bad if both the fan motot and the compressor not running right
Did you check power reading at the condenser unit or at the breaker box

Good call wmproop. It could be as simple as a bad cap or even the motor. And it is always necessary to check for correct voltage at the actuall piece of equiptment in question, in this case the fan motor.