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I have one on a 93 Chevy Van and a 2000 Ford Mercury with the 4.6 motor and your readings sound normal to me.
And the bouching pointer may just be the egr system, I have seen the very same thing on my Ford once it warms up and the egr starts to cut in...
I am a old time machinc and had a panic reaction to seeing the pointer bounch around at cruse untill I read it is more or less normal on some new cars...
A reading ot 10 to 12 at 70 MPH is what I see and I am getting 29 MPG at that....
Rich
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