In plain english, this means that you're only getting input from the ECM every few seconds, which by today's standards is sloooooow. The reason for this is the 7747 ECM is probably the most primitive ECM out there and the data update is 160-baud rate.
If you want to get the most power out of any TBI setup you must tune it yourself, b/c it is a long, drawn out and time consuming process. Off the shelf chips and mail order tunes are MARGINALLY better than a stock tune, at the best. 400 LB-FT of FW-TQ will turn anything into a blast to drive, especially a light 2WD RCSB, and you'll have plenty of grunt to pull loads, one of the best things about a TBI setup. I have a very mild setup in my truck, making about 300HP and 400TQ (at the flywheel).
400+ HP and 500+ TQ is certainly not unreasonable for a TBI setup.