Scott, this is the article that helped me immensely in my carb swap, I also put in a 351w and am currently putting in a t-56 6 speed, see my gallery for pics.
http://www.jason.fletcher.net/tech/e...b/efi-carb.htm
You can run an adjustable regulator but are very expensive, you may be better off taking out the elec pump in tank and go with a mechanical one which are fairly cheap and reliable. As for the hot wire, I figure anything that is live in the run position will do, you will have to go with a duraspark or some other ignition system. Best o luck, worked out excellent for me.
Brian Gillespie
b_m_gillespie@hotmail.com