38-40 PSI fuel rail pressure seems low and at what temp or RPM is that ?
Is there a fuel regulator, and is it vacuum controlled, if so check that hose of leak ?
Is regulator adjustable, and if so what happens if railing fuel rail PSI to more like 45 PSI ?
When starting cold and idle is high about 1,200 RPMs something is driving ECM as to timing or
what it command to the fuel injector pulse width ON times
Check vacuum, what is reading when cold started
Do leakdown of fuel pressure, with 8 injectors must have a fuel rail and it should have a valve to
screw on a fuel pressure tester to assure it is not what the issue is and also assure the regulator is
working correctly or adjusted for proper PSI
If there is some type of intake leak which will effect vacuum then ECM may be fooled as to what engine mode the ECM is
If fuel system and injectors not a issue then how about getting or making a smoke machine and looking for small leaks