Is this just for the cool factor of having EFI or do you think it will run better with EFI than it will with a carb? Unless idle quality might be an issue due to a huge cam you will make just as much power with a carb.

It's for the cool factor & ease of tuning. I'm aware that a carb will make as much or more power.

If the cost isn't a concern then go for it. I'd run EFI on the Chevelle if I could afford it.