Re: Merc 5.7L LX with Governor???
Are you using the ICM from the 4.3L? or did you buy a new one for a V8? They are expensive purchased new from Merc, so might have tried to get by with it. It maybe the root of your problem. I am not sure how the rev limiter works, but here is my simple calc: 5000rpms X 6 cyl = 30,000 pulses per minute, divide that by your actual 8 pulses a min = 3750 rpms. Close to 4K, especially with tach error.
A V6 advance curve will not be ideal for a V8, either. The module will be mounted to the distributer or exhaust elbow. Most have the advance curve labeled on it like: V8-22A If you do have a V6 module, start watching ebay to save yourself a couple hundred bucks.
PS: I believe the 4.3L T5 does not use a knock sensor. To stay with T5, you would need a T5 V8-22A that was for the (pre-vortec) 5.7L or 5.0L alpha 2brl. The 5.7LX and 350 mag had the knock sensor and you would have to wire up or change the harness. Alternatly, you can go to a T4, which doesn't have a rev limiter.