Your code is likely just from the mixture being too rich. I'd bet your O2 sensor is fine. A 1222 could also be a failed heater relay.
I'd check carefully for any vac leaks again, but it seems like you've done that already.
Be sure your coolant temp sensor has a good reading, and also check the fuel delivery - fuel pump pressure, fuel pressure regulator. Replace the injector o-rings while you're in there - those can have vac leaks as well.
That onboard MPG computer is just a calculator - it measure injector bandwidth and divides it by a MPH signal from the computer. It's not accurate, just a ballpark figure. Mine hits 15MPG all the time, but when I use the odo against gallons used, I average 31MPG.