Sandy Mandel answers: 

1. Do you intend on passing ever increasing emission requirements? Carb engines must now be 'detuned' just to pass emissions in some areas in like here in CT (that's what the mechanics had to do to my mother's 4-bble '86 Buick Regal to get it to pass-then she has to bring it back to have the carb and timing readjusted so the car has it's normal power back).

2. If you do, here is no cheap way out. You can get a Holley or AFB Carter unit, but, they are probably about $450.00-$550.00. A distributer (none ECM) is maybe around $150-250.00. Then the ECM can be bypassed, but now you'll have to deal with drivability issues. All harnessing should be removed as much as possible, all remaining loose ends should be tied and secured with tie wraps. If you intend on going racing, or living in an area where emissions is ignored, you're all set. But, I would advise against buying a used Carb. 

3. Best solution (and most not necessarily the most expensive): Go to the bone yard and get a 3rd gen factory TPI plenum, intake, ECM, all sensors (MAF, MAP, coolant temp, knock, EGR, O2, TPS, et.) This site has a link for 'Year One' which looks like they can provide virtually every sensor you'd need. I'd have the injectors sent out and ultrasonically cleaned. With this set-up, you can eventually upgrade the plenum, runners, et. over time. This set up will, in my opinion, provide the all the best compromises in torque, throttle response, fuel mileage, clean emissions, superb driveability and higher reliability. If
you want to get a little more daring, Linginfelter and Accel both have full intake systems, as does Fuel Injection Specialists and Edlebrock as well as Holley. But, they are very, very expensive ($2,500-$3,500.00).

Mike Richardson answers:

Why dont you have the original carb rebuilt at my GM dealership we charge about 150 dollars to rebuild and setup the carb on the car . its like guaranteeing that the car is going to run right. If it doent just bring it back and it will be taken care of for free. Dont mess around with aftermarket repair shops when it comes down to driveability. Also there are jets and metering rods available to compensate for any mods you have done and can be ordered from edelbrock. However the stock setup will run great. I dont see how theQjet is shunned from the performance carb. playing field. There is no power valve to blow out and i have a friend running 13.70s with a qjet on a stock truck 350 in an 83 camaro

Jeff- Can you pass on to Michelle this answer- On both of my IROCs, I did exactly what she wants to do. I got an HEI dist, and Holley carbs. It actually DECREASED emmissions. She needs to straight wire the fan, that is the only complication associated with this idea. Please tell her that I have an extra HEI distributor w/ vacuum advance, that if she wants it, I will send it. P.S. Noticeable 30+ horsepower if new carb is tuned right. 305 ci= 600 holley; 350ci- 650 plus cfm. Tell her to please get vacuum secondary carb!!!!! I killed first 305 with a 600 dblpumper! Washed down walls of cylinders! Qjet=junk!!!!! Thanks, Jeff!