#1 Run off the witch, she will turn our rig into a frog.
#2 Yes you can put the TBI on the 78 motor. You will need the Heads and intake (not necessarily the heads, but he has them and that will be simpler) distributor, ECM, and the sensors. You will either have to use all the inputs or get your ecm reflashed to remove the unused ones.
It is a GREAT swap for driveability, but a little more cocmplicated than bolt on and go.