I'm hesitant sometimes in answering this question because invariably someone will chime in and say I'm full of crap and that this won't work. So what I will say is that it works for me. Your mileage may vary!!
A couple things first. A belt driven pump with a front tank is a simpler system IF you have room on the front of your motor for the pump and room up front for a tank AND you don't mind taking the hood or in some cases the whole front off the car between rounds to refuel.
BUT...
...if you already have an electric rear mounted fuel system with adequate sized fuel lines and a sufficient pump, then yes it will work. Keep in mind that you will need to deliver almost twice the amount of alky to the motor than gas.
Here's my setup:
A 4 gallon rear mounted fuel cell
BG400 electric fuel pump
Holley 12-704 regulator
Rupert modified 1150 Dominator with PCI fuel bowls
-12 line from tank to pump
-10 line from pump to regulator
-8 line from regulator to carb
I have also run this same setup with dual Holley (Rupert) 750s with standard fuel bowls. I have the PCI bowls on the 1150 because they have 2 .150 needle/seat valves in each bowl plus the bowls are a little larger. Again, we're dealing with twice the amount of fuel and that's the key with alky. You've got to get enough of the stuff to the motor. I have got mine to work with 8 psi fuel pressure but you really need about 9.5-10 psi of fuel pressure to the carb at WOT. You won't be able to do that with a carb as you will blow the needles off the seats and flood the motor unless you do a little mod to the regulator. I have only done this to a Holley 704 regulator but it will work with others. You need to take the diaphram cover off the regulator and drill a 11/64 hole in the side and then tap the hole with a 1/8" NPT tap. Put a AN4 to 1/8 NPT elbow fitting in that hole and then drill and tap your intake or carb spacer and put another elbow there. Connect the 2 fittings together with a AN4 line or you can use rubber line and hose barb ends of the elbows if you don't want to use the AN4 line. When you crank the motor up, disconnect the line from the intake and plug the intake or have a helper hold their finger on it and then set your fuel pressure to 9.5-10 psi at the regulator. Then connect the line back to the intake. You will find that for every inch of manifold vacuum you have at idle you will have a 1 psi DECREASE in fuel pressure. This will get your fuel pressure down where you don't blow the needles off the seats at idle. When you open the throttle, intake vacuum drops and you will see your fuel pressure rise. At WOT where you have very little to no intake vacuum, your fuel pressure will be where you set the regulator, i.e., 9.5-10 psi. At this point you don't really care if the needles are getting blown away as you will be using all the fuel you can pump in there.
As I said above, you can get by with 8 psi and not have to do the regulator mod if your carb has 1:1 linkage where the secondaries open with the primaries. Otherwise, what I have found is that doing the burnout with a carb that has the old style progressive linkage, you are really using only the primary bowls as the motor doesn't have enough load on it to have the secondaries open and you run out of fuel in the primary bowl. If you have the 1:1 linkage then both font and rear throttle blades are open the same amount burning fuel equally out of both bowls and that will work fine with 8 psi.
Does it work? I run a 496 in a 2546 lbs. Camaro to a best of 5.46 @ 125.77 in the 1/8th with a 1.18 60'. It works for me and as Forrest Gump would say, "That's all I gotta say about that."
George