Body removal from chassis

Out of courisity .. what would prevent you from just making gobbs of HP with a year correct 340 / 360 or even a 383 /440.

Can you add EFI to an older engine?
Thats my full back plan. I already have a the running gear an like the idea of the gen 3 swap. Plus our new rules prevents me legal having more than 270hp in the current chassis.