Yeppers...got your PM mate....all sounds great....I'll answer later.
As you say, with cats and the ECU doin it's job bouncing off the O2 sensors will keep most things clean.
I just hope that those in office do follow the conversations to an end and take the advice of the authorities by collectively getting all ICV interests together.
There is a simple sequential EFI system for windsors here:
http://www.mass-floefi.com/mass-flo.html
Even uses the Ford ECU...and even looks at home under the hood of a cobra.
Cheers Al.