Crank Sensor
The reference sensor comes in handy for dual plane manifold fed by a 2-barrel TBI. The operation of the injectors is alternating at low demand, then switches to both for heavy loads. The alternation provides less fuel time in the ports, for less fuel dropout. TBI injectors have high flow, so running half at the low end increases the fuel control resolution. Otherwise for full bank, low pulse widths do not even fully open the injector, and fuel delivery is nonlinear at those short intervals. This information comes service training manual of the era, but I have not verified. I plan to use similar strategy if I inject the Barracuda.
After reading the various posts I like the 66PlyValiant idea, "use chevy parts".
You can get there with nearly any of the strategies if you learn to interpret signals with a micro and change as needed. With today's integrated micro's it is an easy task. Much better than diddling with discrete logic.
Wish you lived closer.