454 standard vs. Mag key differences?

[jetstreammate]

My friend found a '92 454 and a 454 Mag. Before making a decision, I want to understand how they differ in terms of horsepower, RPM range, and their setup like whether they have EFI or carbs.

 

[fair.rook]

The standard 454 usually came carb'd and puts out less HP, while the 454 Mag was the higher performance version with more horsepower, higher RPM range, and often EFI depending on the year