with your advice I installed my fuel pressure guage today. No problem.
Looks good & works good. It's reading at just under 12 psi. Would it be worthwhile to tear into the throttle body to boost the pressure a little. Keep in mind that it is getting a lot of air now that I have the open element 14x3 K&N on there.

I would only consider it if I felt I would notice a considerable power gain.

Thanks again.

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LO3 305 w/TBI
Open Element 14x3 K&N
Hypertech Thermomaster
160 Degree Thermostat
Low Temp Fan Switch
Eddlebrock Performer
Muffler (No Cat)
B&M Stage 2 Shift Kit
17"x9" ATP 5 Spoke Alloys
P 245/45 Goodyear Eagle
HP Ultra Plus Tires
Lakewood Rear Control Arms

 

Best thing i can tell you is to try it out!
you might wanna tap into your O2 sensor with a voltage meter to sorta get an idea where you are at but bear in mind they arent too accurate i sorta say as a rule if its past .8 and steady it could be anywhere and you really just have to test it out back to back, maybe on a Gtech if you can find one or at the track
get a baseline with your current setting
change the pressure maybe .5-1 psi and see if it makes any difference in trap speed
it probably will help if you increase the pressure some because your air is ingesting more air than stock now