A well tuned engine should output about .5% CO and 50ppm HC, so as you can see, your vehicle has more than a little something wrong with it.

Things not yet mentioned concerning high HC readings: Base timing, advance/retard function,CPS, leaky injectors, vacuum leaks.

High CO:air intake restrictions: ie clogged AF, PCV, fuel delivery,EVAP system

Have you adjusted the CO setting?