I think I have the config worked out properly now after reading the documentation. I'll post here in hopes of saving someone the frustration I had -
I'm using the G2 2-clamp version on 2-phase, 120v, 60Hz
3 - 1 byte dec - 0 (turns off reporting only when there is enough of a change - needed for custom report timers)
101 - 4 byte dec - 770 (reports watts for whole, clamp 1, clamp 2)
111 - 4 byte dec - 10 (reporting time for 101 - 10 seconds)
102 - 4 byte dec - 6145 (reports KwH for whole, clamp 1, clamp 2)
112 - 4 byte dec - 60 (reporting time for 102 - 60 seconds)
You're right about the spikes being correct. Apparently my heat pump (it heats and cools) pulls over 25,000 watts!

You can see in the attached where my heat pump kicked in this morning. I'm surprised at how much power some devices pull!
But I am confident that it is working correctly now. Thanks for your input.