Fuel vaporization techniques are currently about 98% efficient, on average. How much do you want to spend to make it 99.8%?
There is a reason that noone has "upgraded" the fuel system beyond what's already being used...
Read further into Smokey's "Vapor carb" idea... he's not helping to vaporize the fuel much more than the OEM setup did - he's using a glorified warm air intake to reduce the density of air charge in the engine, and using excess heat to pre-heat the fuel system. Among the turbocharger and other mods, he managed to create something that noone thought he could - the most complex hot air intake ever thought of.
It really didn't have much to do with the fuel system, but (my opinion) he thought that if he said something about "fuel" it would catch more attention than just calling it a "hot air intake".
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