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I'm in the process of changing my 1990 Mustang over to carb.
Yes, EFI is more efficient and it's nice in cold weather....but to me when you can't get a valve cover off without pulling the upper plenum, that's a pain in the butt.
You will need to replace your distributor to one that either works with a current TFI setup, or one that works with an capacitive discharge ignition box. When you eliminate the ECC, your distributor won't know to advance the timing.
For a 302, you can't really do much better than a Weiand Stealth or a Performer RPM. A 600-ish cfm carb will work fine as well.
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