Hmm, taking off fuel injection and using carburetors is kind of backwards.
Most people recommending this have never balanced a set of carburetors.
The Fuel injection is not limiting point on a M10 engine.
Use the 2 liter and get a high lift cam, a cenfugal distributor, and a header.
To get the most out of the power available, get a 3.91 to 1 differential.
To counter this lower gearing, install a 5 speed with an overdrive 5th gear.
I do not think on a low compression engine, less the 10 to 1 you will get a hp number over 160.