[crazypete]

I think the general consensus has been that EFI makes great bottom, great middle and good top end and a carb makes good bottom, good middle, and great top end but it's more finicky about things such as weather and altitude and humidity. I remember seeing a graph that MM&FF did once when they did a carb swap on a stock fox 5.0. The EFI hp/torque curves were completely smooth and the carb curve was all ripply. The carb curve was slightly below the EFI curve until it hit 4000 (????) and then the carb curve went above the EFI curve. This is off the top of my head.

So to answer your question:
1. More street power with the efi (low-midrange)
2. More race power with carb (high range)

All that said, I swapped my EFI out for a holley and I will never ever look back. If you're doing mods regularly, a carb is the way to go. EFI needs to be recalibrated with injectors, mafs, fuel pressure regulators and sometimes even a programmable engine controller. Just look at all the "which ____ go with which ____" threads floating around. Each of those adjustments is a couple hundred bucks. Me, I just go up front and turn some screws and the problem is solved within a few minutes of tinkering for a few bucks in springs and jets. The carb is more "accessible" to the enthusiast. I warmly recommend the holley simply because _everything_ can be adjusted.

Good luck!