There are several different ways to get it done. Having done one conversion, I'll give you my opinion on how to do it on the cheap.

First, if you are going to salvage a stock LA TBI setup, get one from a 360. Bigger throttle body and more power potential. They were never set up for power at all, so you need every advantage you can get. Next I wouldn't worry about sensors on the Dodge, for MS you are better to use the GM parts which can be scabbed off most any junkyard rig. Having a wiring harness will be helpful, but you can also get the connectors with your sensors and build your own.

Here's where I would start: http://www.diyautotune.com/catalog/micro...ness-p-509.html
For $369 you get a complete engine management system WITH an 8' harness. Solder the sensor connectors on and a few other connections and you are hooked up. This is a perfect setup because it is designed to run 2 low-z injectors like come in a throttle body.

Personally I would start with fuel only and not try and control timing right out of the gate. You can use your standard distributor, and let it control timing for now. When and if you are ever ready to let MS do it, then you can lock it out at a later day. You should never need a cam/crank sensor unless you plan on running sequential; the distributor will do just fine. If you choose to do full timing control, you will need a 7 pin GM HEI module.

Definitely have the o2 bung installed first. For $105 I would use this: http://www.14point7.com/products/spartan-lambda-sensor for Wideband o2. It's a down and dirty no-frills lambda sensor. You will need one if you ever plan on getting it fully tuned in. Add his $50 gauge and you can watch it on the fly after it's tuned without your laptop.

Regarding the fuel pump, you will need a return line. There's no way to run it returnless with TBI. I would get an inline Walbro, like the GSL392. http://www.amazon.com/Walbro-GSL-392-In-Line-Pressure-Installation/dp/B0051UH656
Some older Ford trucks had an inline pump, so that's a possible junkyard shopping item too. The throttle body has a regulator built in, and it runs at 14PSI. The pump won't care what pressure it runs since it's regulated. Any excess fuel dumps back to the tank. An 88 Ramcharger TBI uses the same pump as a 92 MPI which runs at 43PSI. Here's another option for fuel return: http://www.summitracing.com/parts/mor-65...1wKPRoCBu7w_wcB


You should be able to get it running for under $700 with some creative parts shopping and junkyard hopping. Hope that helps answer some of your questions!