My 95 TBI K1500 has just about the same engine. Here are some ideas I've wanted to try:
bigger exhaust, edelbrock performer plus cam (they have one specificaly designed for TBI small blocks), edelbrock intake (again one for TBI's), edelbrock TES headers, TBI spacer/Injector spacer, replace engine driven fan with electric (some advertizements claim 2-3mpg and 10-15% hp increase), use 1.6 roller rockers instead of 1.5 (increases valve lift without pulling front of motor apart to do cam).
What I have done (or had been done before I bought it):
K&N filter (E1500 not FIPK) works good, Tornado fuel saver (added at same time as K&N, I'm not sure if the "increased power" comes from either or both but there IS increased power, and maybe 0.5-0.8 mpg), air blatter "helper springs" (on it when I bought it) helps make it stable for towing but it takes away the smoothness of a 1/2 ton (probably not as bad as regular helper springs).
I love my Suburban, until its time to gas up!