rg2200
+1y
I did a megasquirt (kit you buy and build yourself), and that added a lot of time, money and complexity to the project. If you could get the ECU and all the wiring from an EFI donor vehicle, then it would be a lot simpler, although not likely as simple as a carb'd setup - although tuning the carb can be tricky if you're not familiar with them. I, myself, am more of an EFI/computer type person, so I prefer the EFI setup, besides the EFI has better cold start, better fuel economy etc.
I'm not on this site as much as I used to be on MazdaTruckin.com, but I'm getting on it more and more often, so don't worry if you don't see a reply for a few days.
This link might be somewhat helpful - it's a snapshot of mazdatruckin.com website from Apr 2011, this link is direct to my 5.0 build, although there's only 13 pages worth (before MT went down, it was about 30 pages, and something like 25,000 views).
This might help with some of your questions.