ECU options for SW20?

Hey guys,
I've started looking into different ECU options for my Gen 2 turbo (will be implementing sometime mid/late next year, with luck), and really have no idea where to start.
I've been reading up on Megasquirts a fair bit (thanks Knightrous for your in depth thread about them), and am definitely keen to learn about tuning myself.
 
I just have a few questions given my current position with the car.
It's a fairly stock Gen 2, forged engine, rebuilt gearbox w/ Quaife LSD.
I'm mainly aiming to have it run more efficiently, reduce fuel consumption (everyone knows what SW's are like on WOT, right?), chuck some N/A cams in it and leave it at around 14-15psi. I don't want crazy power out of this car. I'd like to keep it in one piece.
It also constantly detects knock and hits fuel cut unless i block off the line, which I've done for now.
These are the biggest (well, only) reasons to go a standalone ECU. As far as I'm aware, the only way to work around the knk sensor is to go standalone and increase the tolerance to account for the forged pistons.
Again, I have zero experience here, so I'm open to any and all advice.
 
Right now, I'm just tossing up between getting a Megasquirt, and learning the tuning process (which I definitely want to do at some point), or going Atom or Haltech (which are both much more pricey, and I'm on a bit of a budget) and get it done professionally.
 
A few more questions I have following this are the setup I'll need to allow for a Megasquirt, or any other standalone ECU.
It's still running a stock AFM, and distributor-based spark setup. Reading up on the Megasquirt thread, I noticed that spark cut seems to be the way to go for rev-limiting. Would this mean a coil-on-plug conversion is necessary/recommended? And would I need to go MAF/MAP sensor over AFM?
I was planning on going coil-on-plug eventually anyway, but I figure why not do it all at once while the engines out of the car?
 
The engine will get pulled out to get a forward facing plenum installed, and new pipework to suit a charge-cooler, but that's not exactly urgent at this point. When it happens, I may as well do all the work while the engines out of the car, right?
 
TL;DR:
Gen 2 SW20 turbo, engine is a great starting point for tuning
Still running distributor and AFM. Do I get rid of these?
Suggestions for different ECU's, tunes, tuning software?
Do I save this excellent, clean example of an SW and just buy a shell and make a track car with all the goodies?
 
Chuck me your ideas people, I'm open to anything!
 
Thanks in advance

Knightrous
 
Keep the distributor and save some hassles, you can still do spark cut with it.
Ditch the AFM and just go MAP sensor instead.

Oh good, I'd would have rather kept it as simple as I can.
Any other suggestions for what I should do before/during the conversion to the ECU? I'm going to go on the presumption that I'll end up using an MS, so working on that, I'd like to get a list of necessary parts before I start pulling the AFM and such.
 
Cheers for the heads up on keeping the dizzy though!