7 psi is stock, what are your mods?
It should idle at 650, so my guess is that the previous owner was having idle problems and cracked the throttle plate with the adjusting screw so the car would idle good, albeit high.
When you turn the ignition from on to off, you should hear a clicking "chucka chucka" sound, which is the sound of a healthy idle speed controller "parking" or callibrating itself. If you hear it park, then I'd check around the throttle linkage and see if you can adjust it so that the throttle closes more completely. If you can close the throttle completely, then the code should go away, and it should idle around 650 instead of 1050.
That's a big assumption, but I've seen that exact situation in a few different supras.
If you don't hear a click, you'll need to check your idle speed controller (ISC) and make sure that the wiring for it is in good shape, and it would be a good idea to take it off and clean it out real good. It's the little black module located right behind the alternator on the intake manifold facing the valve cover, and has 1 large hose coming from it and two small coolant hoses on the underside of it.
Most idle problems are related to the ISC or are result of a vaccum leak, since you also have a code 51, I'd think ISC before a leak.
Hope this helps,
-Jake