Who is running a carb setup?

Disadvantages depends on the people. To install it you need to find a new distributor and a duraspark II module (or search for HEI conversion). I went with the duraspark II system and will go MSD later on. Wiring the duraspark is easy, the white wire goes to the solonoid (power when starting) and the red wire for runtime power (off when starting). I plugged the red wire on one of the huge grey wires from the switch. I said "screw it" for the runtime resistor though... The other wires (green, orange, purple, and black) go to the distro. and coil.

Of course you'll need to change the intank pump for a simple pickup and use (at a minimum) a Holley red inline fuel pump. A bigger fuel line is recommended but not needed for 300 ish HP engines.

You'll need a carb and an intake. A nice Airgap intake makes the engine look mean as hell. It's pretty simple stuff. Just keep all the EFI stuff, I know it can be sold very easily and would pay for the swap but you never know if you want or will have to go back to EFI.