Most aftermarket EFI systems run single or dual injector drivers as their "base" configuration. Sequential EFI is most important for emissions control, there is some good reading on the internet why SEFI is not important from a performance standpoint, and little from an economy/emissions standpoint. On one 4G63, we logged 30+ mpg using 110 octane fuel during a drive to/from our local track (30 miles each way), using "alternating bank" firing, and the owner reports good throttle response, and no stumbles, equal to a factory tune. Note that most high powered aftermarket EFI'd cars, are using either batch fire or bank-to-bank. There is ONE major advantage of SEFI, however; tuning individual cylinders!! V engines, and some inline 6s, can have a harder time getting even fuel/air distribution than what we've seen on the 4G63, and in these cases tuning individual cylinder trims would be a benefit. I haven't needed it on a 4G63 however.
Same as with an AEM, with practice one can make megasquirt run the 4G63 as well as a factory issue tuneup. WOT is easiest to tune; it's the cold start, part throttle drivability, warmup drivability, etc. that is most challenging. I think we have really good maps for a variety of combos that I'm willing to share/discuss etc.
Megasquirt is technically a "Do-It-Yourself" project; but don't let that fool you into thinking it's "homebrew" or "unreliable" and especially don't let it make you think that it's not feature-rich!! The original designers were "in charge" of EFI for a large US automaker, Megasquirt is their gift to the Grassroots/DIY autosport community.
Megasquirt has been carried further by guys like Eric Fahlgren and James Murray, both professional programmers & major gearheads. Actually, something like 50 people are contributing to software & hardware for the MS; the recent v3.0 circuit board was designed by a guy who designs electronics for the swiss military, with upgrades for "extreme low temperatures" (so the guys who 4-wheel in the Arctic can start their trucks at 60 below zero, and still connect with "Megatune").
Development includes a number of "testers" (I'm a beta tester) that must implement, and report status of, any new features before they're released to the General Public. Documentation is now being better organized (although, FAQ's for specific engines are in need of more help; thankfully, a guy on dsmtuners has put up a howto that applies to Galants as well as DSMs). I've asked for features to be added to Megasquirt's "Extra" firmware a few times, and they were implemented within 2 weeks of my request.
Anyways, lots of people like to say the MS is "cheap junk" or all kinds of hater things that get said when something new comes out, and outperforms other systems in the price/performance category.
To run megasquirt on a 4G63 and control both fuel and ignition timing, you need to use the original "Megasquirt-I" chip, and I recommend using the version 3.0 circuit board with that. Then you must make a few modifications that are well documented on the dsmtuners HOWTO. Basically, you are "conditioning" the CKP and CMP signals from the 4G63 "Cam Angle Sensor" to make the MS capable of reading them (2 simple pullup resistors). Then, you configure two of the "LED" circuits on the MS to provide a 5-volt pulse to trigger the 4G63's "Power Transistor" which then fires the coils.
I'm sure there are more specific questions, go ahead and ask them! I'll answer as quickly as I can.
thanks,
-scott