Dwayne - Everything I know about Megasquirt is from posts I've read. From what I gather, because you're not buying a kit it's more customizable to a specific application, might cost less too. Me personally, as much as I love working on my cars I know my limitations. As for EFI in general, converting from a carb induction is a personal choice. The initial hardware cost and install time can be worthwhile if the plan is to drive your car on a fairly regular basis or maybe take a couple of long trips a year (Hawk took it to the extreme last year). The benefits are easier cold starting, less fuel wash, perhaps better gas mileage, not having to tune to account for atmospheric conditions.
Specific to FiTech, I returned the FAST system and switched for a number of reasons: didn't have to monkey with my fuel delivery, it's returnless (still need to vent), fewer wiring hassles, and it's 1/2 the cost (when you figure in the Phantom Stealth in-tank fuel pump I returned as well). And FAST doesn't play well with my brand new Pertronix distributor. That said there's quite a debate about storing a gallon of gas in the engine compartment. After installing the FCC, I'm a little ambivalent. On one hand it's a cool looking unit with the brushed aluminum and gauges on top, but it takes up a lot of real estate. in the end, once I hook the system up and it works like it should, I'll probably wind up loving it.
Are you planning on converting before Spring Fling?