I went with the water choke and I'm not happy with it. Had (still have) issues with it sticking. I'll probably get a manual choke conversion for it. Other than that, it was fine.
H2O choke - Easiest installation
Electric - you need to re-plumb the water connections and run a wire to the choke.
Manual - you still have to re-route the plumbing and then install the choke cable.
Oh - the carb kit comes with a bunch of plugs for the vacuum ports - I still had to go find some others..
Cheers
Mike