All the info required is out there..
The original version of the megasquirt was written on a 51 with a Basic interpreter onboard.
The algorithms for the latest version are here..
http://www.diy-efi.org/efi332/eq...gorith.htm

Infineon are always a great resource for such items as Bosch (jetronic,motronic) ECU's are full of Infineon IC's..
Hitex have on there website (buried somewhere) the full source code for a 12 cyl F1 engine.. which could be easily ported to c504,508.

I doubt that he has a dynamometer to create the lookup tables that will be needed?..although there are plenty of homebrew site for that aswell.