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Its not so much "dangerously lean" as lean enough to spike egts, but rich enough to spike egt's.
you can more or less run many engines designed for turbochargers all day long at insane boost levels at 14.7:1 or leaner since they are moving alot of air, and not alot of fuel. AKA how diesels operate with cheap valves, cheap turbos, etc. Alot of air, not alot of fuel for low EGT's.
Now the problem is that what happens if you want 11.5 and don't get it, but it doesn't go all the way to 14.7:1 or leaner. NOW you are screwed. 12.5-13.5 is just perfect for cooking stuff off. Even worse when EGT's get high, turbos will start to lose boost control. I've seen someone with a turbo kit wire open the wastegate and wonder why it was making 22psi. His EGT's were so high that it was operating as a jet engine with the STi engine as the start of the fuel burn. Putting timing back in and adding a bit of fuel made it settle right down.
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