A close friend of mine, not long ago, traded in his tired old 7.4 carb, for a late 90’s 7.4 mpi. Best thing he ever did, he reckons.
Should be mentioned however, that these early gen mpi aren’t to be confused with the later mpi models, from 2002 and the decade to follow, where the short block v8’s and smaller v6 variants, produce significantly more power and efficiency over the carb.
These base 7.4 mpi are about the same power as the base carb. The mpi magnum has more power perhaps. They are a little better on fuel he reckons and certainly start on the first sign of the key turned.
Anyway. Best of luck however you go.