Just to update things, I changed the engine oil and filter to eliminate the possibility that dirty oil was contributing to the high HC reading at idle.
I then went through the procedure to re-set the idle speed and ended up making NO adjustment at all because things seem to be in line with specs. But I'm not sure about that, as follows.
I warmed the truck up for 20 minutes to nearly 160°. Idle speed in Park was 400 RPM. I did the steps as per both Chiltons and the online TBI document I linked in my opening post, and on restart with the IAC disconnected idle speed was 700 RPM in Park. In Drive it was 400 RPM. Since the "Minimum Idle Speed" from the Chiltons table is 425 in Drive (+-25 RPM), that seems to be right on target because I believe that table is for when you have a "seated IAC valve." But I'm not sure about whether or not that idle speed is for when you have a seated IAC valve or for under normal operating conditions. Under normal operating conditions my idle speed in Drive is 200 RPM, which would be at least 200 RPM too low.
Note that the online TBI document says that at 160° (~70° Centigrade), the “target idle speed” (set by the chip) is 700 RPM. So if that means the “target idle speed” is the idle speed in Park with a seated IAC valve, I'm right on. BUT, the online document also says that "The RPM that the engine is idling at now is probably what the RPM is set for in the current chip that you have." So that suggests to me that I should be idling at 700 RPM in Park w/ a warm engine under normal operating conditions. If so, I'm 300 RPM below that and should be kicking the RPMs up. BUT, that document also says (essentially) that if you set the idle too high during the procedure, damage the IAC motor could occur, and I obviously don't want that to happen. Plus, that idle speed (700 RPM in Park w/ a warm engine) seems a tad fast to me.
Anyway, that's what happened with the procedure to set the idle speed.
Now, in performing this procedure, I noted that the engine had a "skip" at idle, which was very noticeable in Drive (vehicle lurched a bit). I ran the engine after dark to observe any sparking in the plug wires, and saw nothing.
So I removed the distributor cap and rotor (which are relatively new) and cleaned them up a bit, then I also wiped the inside of the distributor cap clean as well. After doing that, the "skip" went away and I went to inspection. It failed again with a reading of 503 at idle (needs to be 220 or below). It passed again at "high idle."
So the first failed reading was 597; then the 2nd reading (after adding some premium gas) was 680, and this last reading (after changing the oil and filter and cleaning up the distrib cap and rotor) was 503.
So that's where things currently stand.
Now, I will say that after pulling out of the inspection station, I immediately pulled over and checked that butterfly valve in the air cleaner which is normally closed when the engine is cold so that warm air from the exhaust manifold can be drawn to warm the air drawn into the TBI. That valve was completely closed even though the engine was fully warmed up. That obviously shouldn't be, so I will make sure that valve is open the next time I go to inspection. Whether or not that will make any difference is to be determined.
I think the guys at the inspection station are getting tired of seeing me, but I'll continue to fiddle until I run out of options, at which point I'll have to take it to a private place to see what they have to say about it.
I'll check out the EGR valve next, correct a possible PCV vacuum leak (which I don't think is leaking), perhaps retard the timing a bit, and then I think I'll be out of tricks to try to get this beast through inspection.
If anybody has any thoughts on my current idle speed, and what your idle speed is in both Park and Drive, and what you think about that, feel free to share.