OK, which flavor of projection? Roughly they are;
Projection analog
Projection digital
Projection digital interactive
Projection Comander 950
These are in 2 and 4 barrel versions and the Comander series can even be port injected.
Of those, the old analog is JUNK! Those that have run them usually mount them under the dash so they can turn the little knobs as they drive as you tune it as you drive, daily.
The Digital is not much better
The digital Interactive (what I run the 4DI) is the first that adds an O2 sensor and goes into closed loop. This is marginally acceptable.
I have heard good things about the comander 950, but don't know of anyone personally who has there project running on the 950 yet. Where they shine is when you need to tune them yourself, on a vehicle that isn't normally injected.
Between the Projection 4DI I have on the Bronco and the EEC-IV I have on the V8 Ranger, the EEC-IV is clearly the way to go. I am considering pulling the projection and putting on an EEC-IV on the Bronco.
And the Howell's I have seen run, but when put on the dyno and the A/F ratio checked, they are WAY off. Closed loop don't mean anything except at idle and cruise. Bury your foot and they all go open loop, which is a guessed program no matter how much they try and quiz you on what they think you need.