Even on stock applications you can make some major improvements to what GM programmed. Wringing out better performance and economy with NO engine mods is quite possible.
Just as a clarification, 14.7:1 is not the ideal air fuel mix. To make a stock system happy in most situations yes, but not ideal all the time.
Probably common knowledge to the automakers now, but most tuners are finding around 13:1 makes best power in fuel injected apps, and GM ran the early injection setups even richer than that, I won't speculate on why, they just did. So people end up leaning out acceleration, which saves gas without hurting performance.
For economy, 15:1+ was run by GM (check out "highway mode") but you've got to be careful with that. Believe that was a TPI only thing, at least when GM first started "cheating" with it.
These different ratios are why tuners are so big on wideband O2 sensors, the narrowbands don't allow you to "see" these ranges, and force you to guess at anything other than where 14.7:1 is ideal.
Aftermarket chips (like Hypertech) are absolute worthless garbage (I have one to sell that I found BTW lol) and not worth anything. Almost nothing is changed over stock except timing, and even that was a generic poorly executed idea. Each vehicle is different, GM has a different PROM (calibration) for every single vehicle variation you can think of. Chassis, engine size, transmission, head material, induction, rear axle ratio, and so on and so on. Way too many variables for one chip to improve for every single vehicle.