I have a rag article comparing EFI (none stock) to Carb. The power difference is 1HP and about a thousand bucks more for EFI. Fuel economy will be the same, put a small 2 barrel 400cfm carb and you will see the same MPG as the stock EFI (actually, even better MPG IMO). A nice little 600 or 650 cfm 4bbl and airgap intake will take you over 240HP with stock cam and heads (according to desktop dyno anyway).
The stock EFI needs a lot of help to get some power, the MAF computers are great systems but the intakes, TB and junk are huge restrictions. You need some good parts and more importantly someone who's really good at tuning the Ford EEC IV systems.
Remember you will need another distributor, Duraspark II or MSD box, 7psi Holley red inline fuel pump (or regulator and stock in-tank pump, or Holley 14psi blue pump with regulator, or plane mechanical pump), intake, carb, older mustang/cougar/thunderbird accelerator cable, air filter assembly, and some fuel line stuff...
I did the carb swap and the car runs real nice. I got the 650cfm double pump and an airgap style intake (runners in the air, not low down between the heads).
The stock EFI needs a lot of help to get some power, the MAF computers are great systems but the intakes, TB and junk are huge restrictions. You need some good parts and more importantly someone who's really good at tuning the Ford EEC IV systems.
Remember you will need another distributor, Duraspark II or MSD box, 7psi Holley red inline fuel pump (or regulator and stock in-tank pump, or Holley 14psi blue pump with regulator, or plane mechanical pump), intake, carb, older mustang/cougar/thunderbird accelerator cable, air filter assembly, and some fuel line stuff...
I did the carb swap and the car runs real nice. I got the 650cfm double pump and an airgap style intake (runners in the air, not low down between the heads).