That timing is low, even on OEM the desired timing is around 8 degrees. But base timing is set to 3.5 degrees which gives a TDCO of about -0.5 to -0.75
Can you pop off the glove compartment and get a look at the chip in the PCM. It should be BPDP for an L56, make sure its that and that its stock. That code was used in 94s built in 93 with 5067 IPs, which is the same scan code your 94 Blazer friend had, which certainly wouldnt be for a 5068 IP. Which IP do you have?? You can look in the door jamb and see what month/year it was built on the top corner of the sticker. You can see from your snapshots of his he had better timing at least and he has the wrong dang IP.
I dont know if pre-94 has significance, but service bulletins made the distinction, and they made updates for them. It should be fully compatable with 5521 IPs, but I did have one of this vintage that performed exactly like your is with low idle timing and high fuel rate. I put my L65 chip back in and everything was great. When I ran it with that older L56 chip it had poor throttle response, high RPM shifts which were rough, and just sucked balls. Couple that with crummy fuel supply you could get stalling.
I can send you a better chip to test with if you want.