PUNKDOG; Just completed a Duraspark II installation on mine. With the aforementioned comments, its the way to go. Purchased a rebuilt Motorcraft distributor, the module, coil, wire set and distributor cap from the local NAPA store for less than $200. One compelling reason for the Duraspark II is availability should a part fail. I will not be searching for some exotic ignition system that cannot be readily sourced. Local auto parts stores typically carry the parts.
Additionally, just go to "Find" at the top of the posting and type in Duraspark and George's wiring schematic and installation instructions are at your finger tips.