A properly tuned carburetor can get equivalent mileage and power to EFI, but all of the control mechanisms (choke, jets, rods, linkage, power valve, etc.) are usually physical/mechanical. That means there will be wear and tear, and need for periodic adjustment to keep it working correctly. To really get it tuned correctly you usually have to use external instrumentation (dyno, O2 and lambda sensors, etc.) while making adjustments. Adjusting with a vacuum gauge and tachometer only gets you so far.
EFI accomplishes the same task using sensors (O2 sensor, TPS, etc.) and a small dedicated computer to adjust the fuel and air flow based on feedback from the sensors. This means there are sensors to fail and a computer that can go haywire. Then you add in the fuel injectors, which must inject fuel at high pressure at exactly the right time and in exactly the right amount, and you now have a mechanical dependency. EFI has been around long enough that there are reliable systems on today's cars, and you can buy them aftermarket for older vehicles (or generators). It just depends on what you are comfortable with.
My daily driver has EFI and my old '75 truck has a Chevy 350 with a Quadrajet. I've considering switching to EFI on the truck, and there are many aftermarket solutions, but for my use its not worth the time and trouble. YMMV