Is a person willing to take a chance on minimal return on the expenditure versus just taking that money and maintaining the status quo and using it for gas money? It all depends on how big a perosn's ego is and how much money they're wanting to throw at hardware. The sad thing is that no matter how much a person tries to update what in essence is a big air pump by reducing exhaust restrictions, improving fuel/air atomization or burning off that mixture, you're still needing to consume a fair amount of fuel to generate power to move 2-1/2 tons of metal and rubber. Now that mid-Frebruary 2011 and the "days of rage" have arrived in North Africa and the Middle East, with predictions of $5/gallon gas in the US by early summer or even higher if, for instance, "wacky Gadhafi" sets his wells on fire, getting optimum mileage by employing more-modern technology will gain a shorter payback period as gas prices escallate, but you'll still be pumping money into a hobby car that more than likely will not see much more use than a long road trip or a lot of short jaunts around town. When gas was less than $3/gallon it didn't make much sense to spend hundreds of dollars (and some above $1000) for such conversions other than for bragging rights, not to mention the home engineering needed to adapt the computer and wiring harnesses, sensors, etc. Those topics have been covered in Forum discussions in the past. Modest gains can also be made by installing a less-restrictive exhaust system (seach the Forum for FPA headers, for instance), typical hi-po engine mods like porting/polishing intake/exhaust runners, addition of electronic ignition, etc. I personally think a person would get more "bang for their buck" by looking into adapting an overdrive transmission or adding an overdrive to your existing transmission a'la the Gear Vendors unit (and since the 428 only came with a C6 that is a lot easier than adapting one to a MX-series Cruise-O-Matic). (Now the warning - I will come off as rather harsh by the end of this response, so please understand that I look at this as a person interested in preserving low-mileage cars and leaving modification to those examples which really need TLC to bring them back to glory) I don't recall anyone in recent years going through this exercise but it has come up in discussion. Over the years people have done everything from adapting throttle bodies (easy) to fabricating fuel rails and installing threaded bungs in the intake manifold for individual injectors (hard), and of course the requisite wiring, computer/ECM hard/software, fuel pumps, return lines, etc. Try a Search in this Forum's archives to see if anything turns up first.
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