Don't think the Magnafuel 500 will work. EFI requires 43 - 58 PSI and the 500 series is made for carbs. Put the EFI pump in now so you don't have to change it later.

Also, the 7AL2 is a noisy box that I call a "lightning generator". Unless you already own the 7AL2 I would strongly suggest a more modern ignition box, even CNP if you really want a noise free installation.