pulled the exhaust manifold off in anticipation of the new arrival. I've noticed that there wasn't a positive seal on the exhaust ports, and there was obvious carboning on the manifold gaskets. I'm hoping that the new manifolds arrive this week, so I can get a better reading. I'm pretty sure that there hasn't been enough pressure being built up with the leaking manifold, giving me a wonky reading.
GMCnut thanks for the tip, I will check the settings tomorrow as well as any carbonin in the distributor cap.