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Well on those trucks the fuel economy is gonna suck no matter what, and it won't improve if you put performance parts into it.
And for mods, its pretty much a standard 350, but there is parts out there for it This is what I found from edelbrocks website about an intake.
Performer T.B.I. (Idle-5500 RPM)
Designed for 1987-95 305/350 c.i.d. (5.0/5.7L) Chevy throttle body injected (T.B.I.) engines. #3704 is a stock replacement/street legal part for 305/350 V8s with factory T.B.I.; 1987-95. Accepts all OEM equipment and small-bore (1-11/16") throttle body injectors only. No chip changes or computer mods required unless entire 5.7L Power Package (manifold, cam, heads) is used. Computer chip is supplied free of charge with proof of purchase of manifold, cam and heads. Will not fit Caprice.
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