Actually the reason to have more low end torque is, to be able to run higher gears without lugging the engine down, causing wider throttle openings. And the higher gearing WILL give you a gas mileage increase.
AFA as running a different cam in my ROLLER engine, It would help me out. But I have calculated that higher gearing with headers and TRUE dual exhaust, I will pick up way more mileage than just switching cams.
The cylinder heads for 86-88 are swirl port which means they don't flow worth a crap but atomize the fuel better, for mileage. We know better ways of doing it now, but back then they did the swirl port stuff for better mileage.
The Olds swirl port head was the precursor to the famously known ch3vy Vortec head, and then the Fast Burn head.
AFA taking the smog pump off, it's already done, but unhooking the vapor canister will lower gas mileage because it is suppose to hold unburned fuel fumes and particles until you start the engine again. If you vent it to the atmosphere you are wasting that fuel.
Almost the same thing with the EGR valve. It recirculates unburned fuel into the combustion chamber to be burned as energy. It also cools the combustion chamber to prevent detonation. No reason to unhook it, since at WOT, it doesn't work. So it is not robbing power, it is just saving fuel.
Modern engine don't even have EGR valves anymore, since they are more efficient at metering fuel and varies ignition timing constantly to burn the fuel more completely.
Carry on.
