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whats better 5.0 fi or 5.0 carb which is more cost effective and dependable

FI is better for sure. Both can be equally as reliable, although there are more components to fail with FI. FI is also more expensive to maintain, but if you have a good junkyard near by, it's not so bad.

Given a choice I'd definately go FI. Ford Mass air is super reliable. If something does go wrong, it will go into a limp mode. Gas mileage might suck, but you should get home.

Carbs are going to be more cost effective, but you generally won't be getting a roller motor. Carbs are also much simpler....just drop in the engine and hook up the durspark and you're on the road.

yeah i love my fuel injection. i had a fried computer and the thing still ran! The computer only cost about 100 bucks so they are cheap. parts arnt bad for them you can pretty much rebuild the whole setup for the same price as a new carb. if you get a speed density one there is one less thing to go wrong and they put out a good amount of TQ mine puts out 300tq stock! 88 thunderbird 5.0. For everything thats involved its not much (two o2 sensors 50 bucks each, map sensor 45 bucks, computer 100 bucks, and knock senser ?? i dont know how much.) Carbs are cool because you can just drop them in and hook up two wires and your done. I had some problems with wiring mine up thats why i fried my computer.

I went from a carbed 302 to a FI HO roller motor and I would never go back.

I went the same route as EBSteve with an Edelbrock intake and carb on top of a 88 roller 5.0 motor. FI get's better milage generally, but is more expensive and harder to set up.