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Thank you. I was under the impression that some special software was needed. By the way, I posted to your response on radiators, but for some weird reason, it didn't come to the top. Check page 2. It was meant as a compliment, not an insult (just a disagreement).
However, the original question was specifically about a 1985 Y Body L98. And Yes, it is adjustable, and yes if you "adjust" it too far out your check engine light will come on, and yes if your baseline minimum idle speed isn't set correctly you won't be able to adjust it correctly no matter what the value is. And yes more fuel can give better fuel mileage.