Holley sniper efi
I generally take the "go big or go home" rule with EFI - factory TBIs were a halfway measure to get some of the benefits of EFI with minimal parts changes, and aftermarket TBI systems are the same way. I'd generally recommend a port EFI setup with the EFI controlling the timing as well to get full benefits.
But there are times when the budget or available time means a halfway measure is a reasonable compromise, particularly if you don't already have a fuel system. Some considerations if you go that route:
Early Sniper systems had some of the worst RFI vulnerability I've seen in a fuel injection system, and I've done tech support for MegaSquirt-1 units with the V2.2 board. They will need good spark plug wires and good grounding, and also I would run a 60 amp alternator at minimum. What's the difference between a good chassis ground and Santa Claus? You can be a competent tuner and believe in Santa. Ground your EFI straight to the battery for best results, and this applies whether you use a Sniper or something more capable.
You will need a high pressure fuel system with an electric pump. This isn't particularly difficult, so much as different. The Sniper unit already has the regulator built in. It's possible to put a high pressure pump on the end of your stock fuel sending unit and slip it in the tank, although you'll need a suitable bulkhead connector for the electronics. But my preference is to sump the tank and weld a pick up to the sump, then use the sending unit as a return.
Want easy computer controlled ignition when not running sequential injection? Use a Lean Burn distributor for easy locked timing and wire it to a 7 or 8 pin GM HEI module.
Last of all, just because an EFI system is advertised as self tuning doesn't mean you won't have to tune it in real life.