sounds to me like he has his mind made up.
I highly doubt fixing tbi is gonna be cheaper then swapping. Yea this sensor or that one might be cheaper but how long is it gonna last? IMO you buy a carb intake and dist. and you get it once and that's it.
I don't see looseing any HP or tq going to carb, tons of carb setups make high Hp and tq and with it tuned right why not? gas mileage, yea most likely it'll drop some.
I like carb over FI anyday, for me carb is easier to mess with. My tbi works ok but if it ever goes down and I can't figure it out, or I can't depend on it working I'm going to carb.
IF his problem is one sensor os 2, or something that cut and dry then yes it's tons cheaper depending on the sensor. a computer or the esc aint cheap. If the guys wants to keep his bi working he should ask I know we can help, to me he has his mind made up so I just offered up info on the switch from what I've read. I have no personal experience on it, OTHER then my 85 monte carlo was tbi 4.3 factory and when I got it was setup for carb'd v8 and is what I ran, in tank pump still in, and gauge still worked, sucked gas right thru it no issues.
I am very curious on dist. though what you must cut or change to convert from this tbi type dist. to an hei style.