He's probably running it with annular boosters too, that makes a big difference for a big carb on a small engine.
A 4118-S is a 725cfm carb. Should be a dual feed ,heated choke, single pumper The R-4118 is holley's universal replacement same cfm choke. May vary Oe application for a 4118-s for a 68 hi-po 289 that being said I would run it it being a vac-secondary it won't let anymore air then needed through the secondary venturies. If ford and shelby thought enough to run it on a 289 why be scared to run it on a 302 If you don't run it I might be interested in buying it