Well, I might as well chime in. You've been around Broncos with enough info to know that it's probably in thousands of threads, with quite a few dedicated to just the pros-and-cons aspect. And you're still asking, so here goes:
Cons: EFI is more expensive than just running what you've already got.
Pros: It's just better, that's why.
;D;D;D;D;D;D;D;D;D;D;D;D;D;D;D;D;D;D
Ok, so sarcasm aside, I like the Howell and other TBI setups, but I think the majority here are using Ford factory stuff for the basic reasons of, less expensive (usually), and lots of support here and elsewhere, including pre-made harnesses. Not cheap to get junkyard or Craigslist Ford stuff ($free to $500 for used, or up to $1500 if you buy a lot of cool new stuff maybe?), but not the same as buying all new ($1200 to $4000) either.
And any one of them will run circles around 99% of all carbs out there when off-roading, or at altitude, or in inclement weather.
And besides, going EFI (any kind) is a good reason to upgrade your electrical system so as to take full benefit from all your new electronic stuff.
As far as your "tips or tricks" question, that has to wait until you decide which way you're going to go. And, if Ford stuff, which specific vehicle you use as a donor.
I'm sure some of the TBI crowd will pipe up with their experiences too, but check out some of the threads in the meantime. I think Dan Wheeler or Heuss33 installed a FAST system just a few months ago and was having some fun with it (after he got the kinks worked out that is) and it runs well.
Performance-wise, it's hard to tell from what resources we've got here. Seat-of-the-pants dynos, being as subjective as they are, and individual setups being so different, the answers likely won't lead to any consistent conclusions.
Paul