one of the more competitive cars at the local track is a dragster (rail car). Typical 555" BBC, Powerglide. Runs on 100% methanol. But one of the big key takeaways is that is EFI. Nobody runs EFI in bracket racing to speak of except this guy, and it works excellent. Low fuel usage (well, for methanol anyway), idles cleanly, comes up on the stop clean, doesn't milk the oil, keeps a temperature, runs very consistent (and fast). it's a really nice setup. F.A.S.T system, although a lot of aftermarket systems can run it just fine. The Ford system could run it too assuming one could "teach it" that 5.5:1 a/f ratio is what is commanded. I don't know if that's possible.
My 92 Mustang is still running factory EFI as well. And it's a 427" SBF. It runs it just fine, but it MUST have a way to tune it. Originally it was a "calibrated" MAF setup and while it did start/run/drive, it was FAR from ideal. Tuning it, opens up a whole other world. But it's still a factory system which carries some limitations. That's where aftermarket EFI comes in.
On my race car (75 Ford Maverick), it was a carburetor for decades. It did the job just fine. In 2005 I put a mechanical injection on it (no electronic, all mechanical similar to sprint cars). Consistency came around, and it began winning LOTS of races. In 2007 my little program won 37 rounds straight which nobody has done since to my knowledge. I had it down, I worked, the car worked. The last 3 rounds the converter was going away but I was NOT about to let a failing converter ruin the streak. In the final round the stall speed was north of 7200. Couldn't feel or detect a shift. LOL! Pulled it afterwards, sent it out, completely rebuilt the transmission as it was trashed as well. Never really got back to full-time racing as in 08 I got the invite to go to a bigger team. Got my comp license and went for it. Sponsors pulled out a while later and from then on our programs mostly sat. Anyway last season I had to completely re-wire my Maverick and in the process I converted from distributor to sequentially fired coil-near-plug. It doesn't go any faster but it IS a little more consistent and it also is a LOT smoother running. With the cam and mechanical injection, smooth running is of no concern but it does make it easier to stage against the converter (footbrake) which allows for a little more consistency. I'm running 5.70's at 120-121 in the 1/8 with it. Biggest thing (for me) is consistency and normally the first time trial is my dial in for the rest of the day. VERY predictable. The car has a little more in it but it doesn't need to go any faster. Not in this car. It's been low 5-teens at 140 in 2011, with a different setup, and that was sketchy.
carbs can and do work. But they aren't bolt-ons, you still have to tune them. Most carbs are running richer than they need to be. In bracket racing our little Ford's, I find that running them LEANER seems to work best. Not too lean, but leaner than "ideal". Helps with weather changes. EFI can work too and it often does. My 92 GT doesn't go to the race track but it could. I just choose not to, other than to go watch.
I also own an 85 LX coupe which is slowly getting reworked. It is also a race car and has been for a long time. Nothing special. It's getting a 5.4L out of a Lincoln Navigator, Sullivan intake, and will be mechanical methanol injected. Powerglide transmission. I don't think anyone has ever done it but I am. Biggest thing is controlling spark since they don't have a distributor, so I'm currently looking at that and there are a lot of options. I'm "hoping" to see it run in the mid 6.30 range in the 1/8 mile. It may not ever get close but I'm certainly going to try. What I've learned about these modulars is that they are really really expensive. The 4 camshafts alone cost as much as some SBF aftermarket aluminum heads....plus the chains, custom pistons, head porting, valve job, custom headers, etc. I originally wanted EFI but I think MFI on methanol is a better option for what I want to do with it. It is MUCH simpler (simpler than carburetors) and usually more consistent.