I know that the Holley instruction sheet says to set it at .64v, but that's way to high (btdt). Here's how the good folks at third gen explained it to me: since it's a direct factory replacement (both the IAC and TPS will interchange, but NOT the injectors), you need to run the the factory setting of .54-.58v in order for the computer not to have a hissy fit.
This is because the PROM in the computer "sees" .54v as the default idle setting. This is also interconnected with the O2 sensor reading and the MAF readings to determine the correct fuel ratio at idle (in closed loop mode). The A/F ratio is based on the base pulse width (how long the injector stays open, usually measured in microseconds) which is set in the PROM, and modified/corrected (based on sensor readings) by the IAC.
Once the TPS voltage goes up beyond what the IAC can handle, (if you are familar with carbs, think of this point as the transition from running on the idle circuit to running on the jets) the ECM modifies the length on time that the injectors stay open (a multiple of the base pulse width called the Binary Learning Multiple) based on air temp, engine temp, O2 readings, knock counts, and the MAF readings.
Getting the idle A/F ratio correctly set at idle can be a absolutely hair pulling exercise in trial and error, BUT once it's correctly set, it makes tuning for midrange and cruse modes MUCH easier; WOT is another beast entirely.
It sounds like it's time to get your chip tuned for the goodies that you have installed on your engine in order to make them work together and get the most power out of them that you can.
One last thing, the overlap (in degrees) of your cam can also wreck havoc with your idle. This is because TBIs have a real healthy dislike for unsteady vaccum pulses which is caused by that nice sounding lope of a big cam.