Later model engines are better then the old 350's retro fitted with a TBI system. Thats the main difference in fuel mileage and performance. Not to point fingers, but GM basically created a Band Aid to give an old engine EFI, up until a couple years later then the went to an Multi point fuel injection system (injector per Cylinder). Just be glad they didn't decide to stick with the MPFI systems used on the blazers. What were they thinking there?
Anyway, you can put a different throttle body and keep the factory electronics on the truck to make it run better and give it more performance. I think the only company that has one may be Turbo City. We should have a performance unit our sometiime at the beginning of 05.
You can replace the whole system, but be prepared to get in over your head. You will need a complete aftermarket system, removing all of the factory electronics, and then purchasing a seperate transmission controller. The transmission is electronically controlled and this controller will replace the factory ECU's control of the transmission telling it where and when to shift. Lots of work. Really not worth it.
Your best bet to improve performance and fuel mileage is to work with a chip or a reprogrammer. There are several companies out there that make products that are easy to use. I would contact Hypertech, SuperChips, Diablo, or TTS Power systems. Most of them can reprogram the ECU, offer a handheld reprogrammer or sell a chip plug in upgrade. I think you would be happy with any of those products.
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