Most of the people I see tuning these are aiming for the low 12's at WOT (12.3 and up is considered rather aggressive though). There are a number of reasons for the high fuel level, the biggest is probably temperature. The leaner you run the hotter it gets, this doesn't magically change once the AFR hits stoich (14.7).
You can lean out on cruise, I don't really know too much about tuning for that though. I've seen lean cruise AFRs from 15.1 to 16.1 (seems like pushing it to me, but I guess if it's a low load setting it'd be fine).
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