The EFI wiring harness contans the wiring for the temp gauge, oil pressure gauge, A/C clutch and probably several other things I have forgotten about.
Diagram courtesy of Tmoss & Stang&2birds
See the following website for some help from Tmoss (diagram designer) & Stang&2Birds (website host) for help on 88-95 wiring
http://www.veryuseful.com/mustang/tech/engine/
Do not use an EFI in tank fuel pump with a carb. You will never get the pressure/flow regulated properly. Either go full EFI or use a tank/fuel pump/fuel lines out of an 84 or earlier Stang. Fabricating your own setup is possible but there are some snags to overcome.
If you try to use your current tank, you will need to pull the fuel pump out and fabricate a pickup tube & strainer sock to replace the fuel pump. Or you can have a sump fabricated and welded onto you existing tank. Many welding shops will not weld fuel tanks because of the dangers involved if the tank isn't purged properly.
You will need an external electric fuel pump unless you change the timing cover for one with the mechanical fuel pump mount on it. You will need to add a relay & switch and wire in the existing inertia switch for an external low pressure electric fuel pump.
You will need to run some new fuel feed lines or braided hose. The 3/8" aluminum tubing works well, but you will need a flaring tool and bending springs to fabricate the lines. Braided hose is easy to run and route, but is much more expensive. It is about $3.50-$4.00 a foot plus the end fittings, which are $3-$4 each. Fabricating hose assembles can be difficult, but anyplace that makes hydraulic hoses can do it for you for an extra charge. See
http://www.amazonhose.com for more information.
You will need a new distributor and duraspark box or equalivent system. The distributor will need a steel gear to match your roller camshaft.
Keep in mind that carbs are great for the strip but not for the street. If there are emissions requirements in your area, a carb'd car will not pass. If these are not concerns for you, then go ahead with your carb engine swap. Since a convertible is not typically an all out strip car, but a weekend cruser, the EFI would seem to be a better arrangment.
If you are not proficent with electrical wiring, your converstion to carb job will be more complicated than you might like. Learn to read electrical schematics, because you will need that skill to do the job right.
AutoZone wiring diagrams
http://www.autozone.com/servlet/UiB..._us/0900823d/80/16/71/3c/0900823d8016713c.jsp for 79-88 model Mustangs
http://www.autozone.com/servlet/UiB..._us/0900823d/80/19/59/5a/0900823d8019595a.jsp for 89-93 model Mustangs
http://www.autozone.com/servlet/UiB..._us/0900823d/80/1d/db/3c/0900823d801ddb3c.jsp for 94-98 model Mustangs