Ax, this looks like a real EFI to me, but I am Not an expert:
The Edelbrock Pro-Flo² EFI System is the second generation version of Pro-Flo electronic fuel injection systems. This system has been upgraded with new powerful electronics featuring full-sequential injection and all the components you need to convert a carbureted engine to EFI.

For non-emissions applications, each system includes:

Intake manifold with fuel injectors, fuel rails, and throttle body
Wiring harness
Engine control unit (ECU)
Narrowband O2 sensor
Handheld calibration module
Installation hardware
Pro-Flo² software

Flash-Programmable ECU
Engineered by EFI Technology, a world leader in advanced electronic engine management, this control unit features flash-programmable memory and full-sequential injection (individual injector firing). Flash memory allows multiple tuning options, including Map-N (Speed Density) and Alpha-N (Speed Throttle). Map-N references RPM (engine speed) against MAP (manifold absolute pressure) to determine fuel and spark requirements; Alpha-N references RPM against throttle position. A base calibration is preloaded, and base calibrations for common performance engines are on the included CD. Use Pro-Flo² software to create custom calibrations. Closed loop fuel targets with included narrowband or optional wideband O2 controller are also supported.

Handheld Calibration Module
Edelbrock pioneered tuning on-the-fly FI with the original Pro-Flo that featured an exclusive handheld calibration module. Also included with Pro-Flo², this unique module plugs into the ECU for fast access anytime. Save up to three calibrations. An easy-to-read display allows real-time adjustments without a computer. Initial calibration, however, must be loaded with Pro-Flo² software on a laptop or PC.

Pro-Flo² Software
If laptop tuning is preferred, use Pro-Flo² software to tune, save, and restore unlimited custom calibrations. Use ''I-link'' to connect online to Edelbrock Tech Support.

It is expensive, but might save money in the long run.

 

Topm,
What it is lacking is individual cylinder ignition control i.e. coil packs. it still uses a mechanical distributor. Some modern engines have other efficiency features like variable valve timing, direct cylinder fuel injection, etc. The engine in my truck can shut off 2 or 4 cylinders when not needed.

 

Glad to hear I'm not the only one.

You view that as a disadvantage (I can understand why) but to me that means instead of 8 @ $30-$50 coilpaks, you have just one, plus a distributor that rarely causes problems with wear parts that cost $30 to replace. I have that exact situation with my DD, it has a distributor with rotor and one coil, plus MAF MPFI. It is 27 years old now and still has the original rotor and cap.

I don't know how it is with Fords, but for any GM LT/LS motor, they sell a "marine" or stand-alone controller that is a plug-in to the engine harness, eliminates all the extraneous crap like passkey, airbags, and transmission interlocks (if you want to).

 

I have located a 1987 F150 with a carbureted 351W with around 88,000 miles. Engine runs well according to seller. I should be able to pick it up for under $300. This seems like a good solution. Any advice?