I just went through this with my sisters 95 4.3 Blazer, poor idle no power and bad mileage.
I started with a complete tune up, plugs, wires, cap and rotor, and fuel filter. All parts were way overdue.
The fuel pressure was on the low side and it would not hold any pressure when the pump shut off. Next was to replace the CPI and regulator assembly. While the upper intake was off I also cleaned the EGR and installed a new gasket. The fuel pressure was still on the low side but it did hold pressure when the engine was shut off. While testing and about 5 min after restarting it just quit, I could not get fuel pressure above 30 psi. Next was to replace the fuel pump, now it is running better than it had in years and she is happy as can be.
It sounds as though you have done pretty much the same as I.
I was able to smooth hers out with the repairs I did, If you are not getting any codes I would check the vacuum lines, EGR valve and the IAC valve.
If i remember correctly the throttle position sensor should read .45v at idle to approx 5v at WOT, all sensors will vary so your readings may not match exactly. (I would need to look that up to be sure.)
As for the timing gears and chain, Get someone to watch the rotor in the distributor while you turn the engine first one direction then reverse the rotation. What you are looking for is the lag time that it takes the rotor to change directions, it should be minimal, the longer it takes to reverse = wear in gear and chain set.
Hope something here helps.
