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First question: How much do you want to spend?
I run Megasquirt in my '65 122. Big thing is that the 122 never had fuel injection, so all the hardware needs to be installed from the gas tank to the fuel injectors. I have about $1200 into my fuel system which also runs the ignition.
I would like to see somebody install a setup like this one I saw on eBay:
http://cgi.ebay.com/ebaymotors/Volvo-P1800-122-140-Amazon-Twin-SU-EFi-Fuel-Injection_W0QQcmdZViewItemQQ_trkparmsZ72Q3a1205Q7c66Q3a2Q7c65Q3a12Q7c39Q3a1Q7c240Q3a1318QQ_trksidZp3286Q2ec0Q2em14QQhashZitem160298050849QQitemZ160298050849QQptZMotorsQ5fCarQ5fTruckQ5fPartsQ5fAccessories
Paul
I'm currently running:
-'65 Volvo 122 with a B21F/M41 (stocked, not modified normally aspirated engine Β-cyl 2100cc])
-LC-1 WBO2
-MSI V2.2 running MSnS-extra (29v) (running electric fan control)- tuning with MT2.25
-Bosch 004 Dizzy/Bosch 139 mod
-Bosch 21lbs EFI injectors
-Volvo 850 Bosch TPS
-Closed idle control with Bosch 516 motor
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