Yup. In California GM actually had to do a recall on them, but everyone else got stuck paying out of pocket. It's 8 individual injectors (or 6, of course for the V6's) instead of a central injector with poppet valves. Parts price is kinda high - but shop around. Get the part # off Rockauto and then check Amazon for it, usually get a better deal that way. Replace the regulator too.
Of course you may wanna wait for more opinions/help in here before you shell out the bucks. By the way could also be something stupid like a bad MAP sensor though I can't say I've seen many bad ones.
Richard