Ok stand by for the crash course in managed engines.
The phrase "open loop" refers to the mode the computer uses when you first start up a cold engine. During the warm up period (before the engine and O2 sensor heats up enough to start providing reliable data) the computer controls the engine by a set preprogramed paramiters in the chip. During this time, the computer is doing nothing except reading these preprogramed paramiters.
Once the engine reached a perdetermined temperature (again this is programed into the chip) it goes into what is called "closed loop" mode. The computer starts managing the air fuel (A/F) ratio and timing by compairing the various sensor readings to another differant set of paramiters (programed into the chip) and makes adjustments accordingly.
It *sounds* fairly simple and for the OBD I system, and it is, very, very tedious, but not to bad. Once you understand what the computer is looking at and how it controls everything you can start your own trouble shooting and eventually chip tuning.
Now to get started, you need a couple of things. First off you have to see what the engine computer is seeing. You do this with ALDL and a connector cable. This site has all the info you need:
http://winaldl.joby.se
Then to learn what everything means and does, go over to
www.thirdgen.org and start looking around. Those guys are primarly geared towards the third generation F-bodies, but they are more than willing to answer a truck guys questions. Believe me, those guys know thier stuff. Also a little advice, when you go to the DIY PROM board, do NOT ask where you can buy a chip. That is a seriously tabou subjuct on that board and they are very adiment when they let you know it too.
Last thing, use the search engines on both this board and any other you visit. It saves a LOT of time, and in 95% of the time, the same question or discussion has been asked many times before. I've answered a lot of TBI posts here, so hopefully that will get you started good. Anything else, feel free to ask.