Get an after market EFI like Go Street. Much easier and cheap at $800. Computer and 2 sensors(MAP and throttle position) built into the "electronic carburetor" throttle body and not a rat's nest of wires. You only have to install the O2 sensor and water temperature sensor. Then hook up power, ignition and tach. They even give you a hand held computer to program it. You will need a high pressure fuel pump and return line as well. I am just completing the install on my 94 mustang 302 in a 49 Ford woodie. Piece of cake! I like the looks of the 302 OEM FI but GO Street is cheaper and easier.
In fact I bought a second unit and will be putting it on my 41 flathead. Distributor is not controlled so no problems with that. I've already got a 4 bbl intake manifold for it.