If you're referring to taking advantage of the data logging feature then in a sense, yes. As I understand it, 'traction control" is about correlating wheel speed and driveshaft sensors (for example, could be any number of sensors/configurations) to see where it spins. With EFI you can obviously adjust both fuel and timing in those spots but the way the F.A.S.T. guys use the ECUs (carbureted) they're essentially limited to timing control.

The tires are a big part of the game. One racer laughed as he was telling me about buying a couple sets of $1,000 repro Polyglass tires and then shaving them down to the tread wear markers. Another guy told me 14" tires vs. 15" are worth a little bit of ET because of the weight.