No ECM modifications are needed in the later PCMs, to run all 4 injectors.
A friend of mine is using a '7060 which is very similar to the '7427 to run his 4 bbl TBI. It's a custom made throttle body using two GM throttle bodies. Been running that way for years.
You're on the right track, as far as the engine is concerned, it's just more fuel, it doesn't care if it's from 2 or 4 or 82 injectors, it's just fuel.
I bet that you have the ground and 5V reference wires crossed on the TPS, so it will show near 5V with the throttle closed, and around half a volt with the throttloe wide open. Your issue at half throttle would pretty much verify this. Do you have to hold the throttle open for it to start? That would be another indication, since anything above 4 or 4.5V goes into a "clear flood mode" at start up and shuts the injectors off. If you have the wires crossed in any other order, your guess is as good as mine how it would run then.
I am running a '7427 ECM in my Grandfather's '71 Chev truck, on a Corvette Crossfire system. Similar to yours, only two less bbls and two less injectors. lol
Due to some issues with the block of the last engine we had in the truck (starter issues) and a less than adequate fuel pump, we only just got it running well last night. We finally have good fuel pressure which has been the major issue all along.
Anyway...
I like the idea of the EBL, and I'm waiting for Bob to come out with the '7730/'7749 version, which may, although this is only speculation, work in the '7427 as well, I'll have to ask him. Anyway back to my point...
The EBL does have some great features, and would probably suit a first time tuner very well, due to what looks to be some intuitive displays, and GUI.
I tune using stock ECMs, and some equipment that allows me to tune in real time, much the way the EBL would, just using different equipment to do so, and without the extra inputs and outputs, that the EBL would provide, like e-fan, nitrous control and a few other things. There is some code floating around for e-fan control, for the '7427, which I plan to test out.

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