It's a lot more complicated than it appears. Those lousy British British carburetors (and the American ones) helped cool the intake charge by about 25 degrees C over what the fuel injected German engines could due to fuel evaporation in the supercharger. They were also much cheaper and simpler to make, requiring about 1/4 the parts and much, much less precision machining which meant that the machines and operators could be making something else.
American carburetors (at least the ones used on main military engines) were initially better than British types, ie. pressure carbs were better than float-type carbs. The much glossed-over things with using one big carb on a V12 engine of ww2 vintage, vs. other types of fuel distribution was that it necessitated backfire screens (a.k.a. 'flame traps') that were 'stealing' rated height even for non-ram conditons (= static engine). Venturi in the carb, along as the small pipes/tubes act as restrictior.
Thus, even if the fuel spray is indeed cooling the mixture, two areas where rated altitude is decreased can be hardly cancelled by one area where rated altitude is increased.
Two items
One of the strengths of the Allison (designed long before the Merlin) was that it was (probably) the first modular engine (like all modern military and transport engines).
You could change a C model Allison to an E or F model or an x hand rotation engine to y hand rotation engine with the minimum of effort and you could almost always use late model parts in the early model engine within very simple rules.
Changing from C to E to F model (and with C and F engines changing reduction gear ratio) was merely a gearbox change.
Reduced to the most basic level, converting rotation involved removing the reduction and accessory boxes, splitting the crankcase, rotating the crankshaft end for end, adding/removing one or two gears in the accessory box, rewiring the ignition harness and reassembling.
Fitting a set of high compression type three of four pistons and type two or three piston pins to an earlier low compression engine was a standard option (though fitting type one or two low compression pistons or early pins to a high compression engine was naturally not permitted).
The Merlin did not have any of these abilities.
Unfortunately, the C series used weaker crankcase and crankshaft than the mid-war F and E series, so the gearbox change is of no help. The impeller gearing was also different and weaker on the C engines than on those F and E series of engines. Earlier pistons were high compression (for 6.65:1) vs. late pistons (that never made it to the war, 6:1 CR). Now that we're at it, let's chage the intake manifold, the early ones were problematic.
In the Merlin, the chagnge from x to y rotating engine was a merely gearbox change.
Stupidly, in my opinion, the USAAC never approved Allison designing a one piece two stage supercharger version of the accessory drive housing for the V-1710 because, almost certainly, this could have been introduced without disrupting the earlier engine production (unlike the Merlin where such a significant change meant a whole new production line, new crankcase etc). The nearest Allison came to a two stage was the ASB engines where the accessory gearbox was changed and the Axillary Stage Blower externally mounted and driven from the new gearbox.
Another outcome of this Allison modular design strength was that the company (and every USAAC/F heavy maintenance shop) could convert engines during overhaul to later, higher powered versions of the same basic engine (or salvage many early engine parts for use in late model engines).
The Brits used a similar process to convert Spitfire Vs to Spitfire IXs but there was no equivalent process for Merlin's because they were not a modular design.
As noted above, installing the parts from early V-1710s is a show stopper. Conversion from one engine to another is not equivalent to the conversion from one aircraft to another.