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The fact that you car's not running is a bad sign. If it was something simple the PO would have gotten it running and been a ble to sell it for a lot more. Unless you can take the time to learn all about megasquirt controller and how it works you'll never be able to diagnose and fix even simple problems.
Doesn't sound like you have the tbitz kit mainly because you have ITBs. If your version of megasquirt has ignition control then you're going to have to deal with restoring the ignition too. Does the car have a distributer? Pictures of the engine would help a lot. You may get a decent price selling the ITBs, the megasquirt controller on eBay. Could help offset the price of the carbs and ignition pieces parts.
The megasquirt controller is probably under the passenger seat. It'll have a vacuum hose connected to it and a cable bundle with a wide connector. There's a 9 pin connector that is used with a serial cable to connect it to a pc and allow it to be programmed using the megasquirt software. In the engine compartment there may be a daughter board connected to the bundle of cables going to the controller. There may not be a daughterboard at all.
If you can find someone near you that is experienced with megasquirt maybe they'd take a look at it and give you an idea of what you've got to deal with.
Lacking that, I'm with Johnny Walker - Yank it and install some carbs and standard ignition (if needed).
Good Luck,
Mac
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