The CFM ratings for Edelbrock carbs have never changed and they were introduced in the early 90s. Wet flowing was a specialty carb shop deal until around the mid 2000s. BG's Demon line was the first I know of wet flow rated carbs being marketed to "mass market". To add confusion, only some of Holley's carbs are wet flowed. I know the HP line and the Avenger is (and ususally it's advertised as a "premium" feature), but the older design 3310, 4150, 4160, and 4500 series are not.
It's a much more accurate method of rating. Very generally you can take off 12-13% from the dry flow number for the fuel. So a 670cfm Avenger is about the same capacity as a 3310 750 or 1407 Edelbrock . An 870 Avenger is around 975 dry.
The key is to have enough airlfow to support the power level, but also to have enough air speed at idle/low rpm to be responsive. That's the line you try to walk. Like C130 says - any carb will work, but with 3.23s running and 1/8th mile I'd be surprised if the engine will even reach 4500 in 2nd gear at the stripe. So additional flow capacity to make power beyond that is only going to help ina street race or 1/4 mile track and it will slow down response at cruise and off idle.
