Christ...ok, well lets try to answer a few of these...
Firstly, and foremost, if you've done nothing and/or your engine is getting enough fuel, and particularly maintains stoichometric AFR while cruising, you don't want to fiddle with it. Adding more fuel only equates to more power if

you have a fuel map problemb: you can get more air in too
That said, moving on to some questions.1. BSFC: never heard of this term. either its a nerd-level technical aspect of performance tuning, that's beyond me, or someone's BSing you.
2. Yes, the computer will compensate with shorter duty cycles, eventually. OBDI is kind of stupid about this, though, and tends to just run off its tables instead of the actual numbers coming in from the engine. Turning up the fuel pressure in this case just tends to result in bad gas mileage. This is also why so many OBDI cars (particularly Ford engines, actually) start idling/cruising like **** after a few performance mods.
3. Actually, the ECU stores a fuel table for a baseline in OBDII, and then uses the TPS, MAF, and O2 sensor (while cruising) to make adjustments as necessary. Changing any of these sensors (except the TPS) tends to require reflashing the PROM to change the fuel tables around to compensate.
4. As for your concerns on raising the pressure...to be honest, flow is the more important factor. Make sure you can feed your engine properly, then get your fuel pressure where you want it. So long as the flow is good, you can make minor adjustments to fuel pressure to get better atomization, and make very fine-tune adjustments to the fuel curve under WOT, which can help with flat spots in the curve, but you usually need a dyno to set all that up properly anyway, and most dyno shops can assist you with all this stuff
Forewarning though: fuel maps aren't really my specialty. Sure, it's important and all, but whats above pretty much exhausts my knowledge of the subject, heh. I'd always been more concerned with flow rates over pressure. I suppose there's some science to it though, the Honda guys are all about it, and god knows they need every extra HP they can get