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Stoichiometry is the job of the closed-loop part of the EFI. Some years ago was the last published comparison of aftermarket ignition systems on the 5.0 you have, the MSD showed the most torque at all RPM, and the best idle. When you begin completely burning all the fuel, not as much will need to be injected for any given throttle opening. You'll still need x amount of air for your cruise RPM, however.
And for that, you don't have that much more drag than a 'stang, and you may already know this, but yours came with 3.27:1 axle gears and 225/60R16 tires, while the 'stang had 2.73:1 with 225/55R16s, so that's known good, but many '83-'86 F150s had 2.47:1 rear axle gears you can swap into your rear axle if you want to try even less RPM.
If you do come across a set of those, I'm curious which of the 3 possible tooth counts Ford went with. ( 42/17 or 47/19 or 37/15. I suspect the latter, but the old 9-inch used the first )
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