A 5 second Mustang????
For checking knock on the Scamnaster, on the right it says "Knock retard"....if you see a number pop up on there, then it's the ECM telling you that it just pulled some timing because the knock sensor told it that it sensed some knock...though it could be false knock or real...the knock sensor can't determine one from the other if the frequencies are right.
However, if you do see a number on the KR side of the Scanmaster, do not beat on it anymore until you have found out for sure if it's real knock or false. Treat it like you would (or should) a handgun. Otherwise you can easily blow headgaskets or worse, the whole engine.
If you get an alky kit, you can run higher boost pressures with 93, provided everything else is up to snuff, you have a good fuel pump with hot wire, fuel psi rises 1 psi every 1 lb of boost, etc.
If you don't know what kind of chip you have, you're best off to have Eric at Turbo Tweak burn you a chip. He'll make one that will work on today's gas, you just need to tell him what injectors you have and a few other tidbits of info.
However if you can post a pic of what chips you have someone can help determine which ones you have, but again if unknown it's best to have Eric burn you a new chip custom tailored to your needs.
You will find working on your GN is MUCH different than working on a Mustang. No timing light is needed on a GN, and the engine is not as forgiving to detonation as a 281/302 is. However if you get your car dialed in right, you will find that little 6 can put on their knees many a V8.
By the way welcome to the site. Do a lot of reading and research so you can keep your GN running at full potential.