Ok, time to revive this thread. Been a hectic year, but I've finally had some time to work on the car again. I've replaced the O2 sensor, plugs, wires, coil and ICM but still getting terrible BLMs. Based on what Street Lethal said, I'm inclined to believe its the injectors as well.
Now, I picked up an LT1 MAF and translator from Highway Stars (holiday package, great price, thanks Highway Stars!!) and just installed it. Set the Chip Type to All Others (1-3 ON, 4 OFF), MAF Base to 3 (Caprice/Impala MAF) and left MAF WOT at 0. BLMs jumped to 115-118 at idle and in the 120s when driving. Still getting terrible knock (almost 25 on the ScanMaster at WOT in higher RPMs), but it doesn't come on as much and the car definitely feels like it has more power.
I've got a PTE 5558 and THDP waiting to go on, but want to get a good handle on this first. After re-reading this thread, it seems like it would be best to either chip the car to match the injectors or, since I'm going to be upgrading the turbo, get bigger injectors and chip the car for those. Will chipping the car to match either current or new injectors alleviate this and potentially the knock issue? Is it common to have knock in a rich condition? Sorry for the noob questions, but I would rather ask more than assume anything. Thanks as always!!
