Yep, get a gauge on it and see where it is now. If this is a stock 2001 L18 with a return-type fuel rail it will have a factory adjustable regulator on the driver’s side of the fuel rail. In the middle of the regulator will be an inverted torx with a tamper proof tang in the middle. You can knock the tang off or use a tamper proof torx bit to adjust it. I like my 8.1’s running around 65-68 at idle. My K10 runs best at 68 psi and Burb about 65-66. The Workhorse RV 8.1s liked around 68 as well.
The bad news is if the regulator has been replaced it probably has a fixed one without an adjustment screw in the middle. If so, you’re screwed too. Even worse, is all of the replacement regulators from AC Delco, Standard, Huy Fong China’s Finest Auto Parts, etc. are all now sold without the ability to adjust them. The only thing to do is scour the salvage yards for a Vortec 1996 – 2003 5.0, 5.7, 7.4 or pre-2003 4.8, 5.3, 6.0 or 8.1 in hopes you find a factory adjustable one. Every adjustable regulator I find in the boneyards goes home with me in my pocket. I think some years of Buick 3.8’s used the same ones. I found some adjustable ones on SPA Turbo’s website for a BMW that looks like the ones we would use but not sure it would actually fit.
I’ve found the fuel pressure has to be below around 55 psi to really notice a huge loss in power. Anything above that usually performs okay but not as great as 62+. I think a lot of it also depends on the tune itself