Carb setup is a million times simpler. You can tune a carbed engine to perform just as good as EFI. If you don't know how to tune your carbed motor, you ain't sharp enough to install the EFI anyway. My last V-8 Ranger had a Holley 600 on it and it never gave me a problem starting, running, etc. I could reach in and turn the key and it started immediately even in below freezing temps. Didn't have to touch the gas. The biggest benefit to EFI is yes, it is more reliable. You don't have to tune it, you don't have to worry about it getting out of adjustment. But you DO have to worry about all the damn sensors and computer parts. Carb is much cheaper than EFI.
All that being said, since I have all the wiring, sensors, computer, etc for my new project, I am going with injection. If it gives me problems, I am going back to a carb.