On the 1500, being an older design, I don't think I would go above 15 for economy, and that would be pushing it. We don't like burned exhaust valves, do we?
You will find fluctuatuĂons with rapid throttle movements. Sudden open gives a lean condition, unless correctly compensated for with the acceleration pump. Sudden deceleration will give rich condition. This "can" be conpensated by slowing the rate of closing the throttle, but that affects drivability.
And Scott, your readings sound right on the spot for my opinion. You should experience very good power, without wasting fuel when you don't need to. Better economy could be obtained, but that's not the exercise. I doubt much better performance could be obtained in it's current configuration, except maybe with cam or ignition timing. That is, if they aren't already spot-on.