I'd be surprised if it's fuel pressure. Typically, low FP problems will not be at idle but at upper RPMs when fuel flow is high. It's possible you do have a bad FPR which would lead to high FP and a rich condition but that would tend to occur at all RPMs, not just idle.
Has it always idled like crap or just recently? How does it run when cold? Better or worse?
A FP test like BigRed suggested is a good thing, you may want to check these first:
Throttle position sensor - make sure you are tripping the idle circuit switch.
All your intake boots - a split in one of them will cause a big air leak
All ICV hoses - it's hard to inspect the one from the manifold to the ICV but a hidden split will cause a big leak.
Do you have a manifold vacuum gauge? Connect that and see what your intake vacuum is. Should be around 18 inches or so. Anything much less than that you and have a leak.
Try setting your idle circuit adjustment on the AFM. The bleed screw could be way in or way out hosing up the mixture.
Cheers,
Jeff
Bellevue WA
90 535iM - not much stock remains. 3.7 liters, ported head, cammed, 3.73 diffy, M5 brakes, MAFed, yadda yadda yadda
86 Porsche 951 - Track Toy