Check out the latest HotRod tech section, they installed Edelbrocks new ignition, fuel and intake system for the 5.4L, it can run COP's and a carb or EFI IIRC for around $800. They had a carb on their engine but I am pretty sure they mentioned an EFI setup that was available. Also Autokrafters has carb intakes for the modulars and might have ignition systems as well.
http://www.autokrafters.com/