Would love to see a efi lt500 on a dyno and what kind of hp can you see out of it 
EFI or mechanical fuel injection will not make any more power than a carburetor that has identical air flow characteristics when the carburetor has the correct main jet.
EFI should provide better fuel mileage and be self-correcting for temperature and altitude if the programmer has done his homework.
Automobile manufactures spend more time than one afternoon in the dyno room building fuel and spark maps.
Some of the theoretical corrections can be done by math. The real home work has to be done in the field by testing the engine at all of the extremes; extreme cold, high altitude, high humidity, etc and everything in between and then use the real world corrections if they are not in agreement with the theoretical generated corrections. Unfortunately engines do not always operate according to theory.