Wow now we are talking good info!!! Its a 1996 454 MAG MPI serial 0F764338.
I thought fuel pressure was 30 PSI for these engines? That's what the fuel pump pumps up to before it shuts off....I can double check that.
That pressure is a tad low for this engine. Should be 34-38 psi.
It is set to 8 degrees BTDC in base timing mode...should it be after?
No, BEFORE TDC is correct.
I had put in cheap spark plugs to get everything running and good but Im wondering if there could be a performance difference in using the correct plug vs the Autolite 25's.

no, let's get the RIGHT spark plugs in. Injected engines are VERY sensitive to combustion events. The wrong spark plugs can upset the ECM maps quite dramatically.
Lastly I know I need to take it to someone with a scanner BUT everyone wants a minimum of $110 to $150 dollars just to hook it up.
Yes, that's just a blatant rip-off. Takes 2 minutes to hook up the diagnostics cable and another 1 minute to read and print off the codes. Buy the software for yourself... It'll save you money, and time, in the long term.
I believe I could change all the sensors for this just don't want to throw parts at it or spend that much for them to say its normal for these engines.
Problem with this philosophy is that if the problem is not a sensor, you're back to the beginning, with less money in your pocket.... :facepalm: Never like 'shotgun' diagnostics myself....
Will it detect a leaky injector?
The software also has an 'injector balance test', so yes, it will detect a leaky injector...
Will running some MMO through it possibly help it?
Probably not....
I talked to the guy who owned the boat last and he said it normal for the boat to run at 1000 RPM at idle.
That's just plain wrong!
What's weird is I can cut the engine off and then start it back up and it will idle back at 750 to 800 RPM.
I'd look at the throttle cable adjustment...
I do know another guy that if he has the right computer will do it for $75 which should be reasonable IF he has the right computer as he stated.
Lastly I thought about buying the LED and putting in the test port and checking for codes but this wont do the same thing as looking at the running diagnostics right? Might find the offending sensor but might not if its something minor only happening while the engine is running.
Having owned the Rinda $700 (Australia

) software and adapter cable for a few years now.... Best investment I have made in the boat... Worth every cent, and then some.... Easy to use, and can very quickly rule out what is working... pays for itself the second time you use it...