Thanks for all the inputs! I wouldn't have guessed that the 5.7 would be pumping that much more then a 5.0 but makes sense.
Fogger, there is a small sensor at the base of the TBI with an electrical connector with 2-wires. When I pulled it with the timing light on the crank, the idle smoothed out and the timing mark stopped bouncing around and was as solid as a rock close to 0 degrees. I don't know what the sensor is since I don't have a book but could this be the vacuum control module? I'll check the connections and make sure I didn't get anything crossed.
Right now the plan is to drive out to AZ speed and marine and have them reprogram the computer and get it set up. Unfortunately it's a six hour drive one way but they seem to be the only ones who can do it for under $1100. I could always pull the 454 out of the jet boat. . . Gotta love big carbs and HEI
Should have stuck with the 5.0 :hammerhea