Assuming the distributor bearings are not worn, then it will be worth buying a contactless adapter kit. Mallory/MSD make a kit, but you'll need to make sure of the distributor model number before buying a kit. Lumenition also sell a kit I believe. Consider buying a new distributor with points-less ignition built-in. If you go for a capacitive discharge kit at the same time, you'll have a great setup. I have a Mallory/MSD setup which includes a programmable rev.limiter, which has been faultless. Change the HT leads at the same time for wire-wound leads of 8 or 9 mm. I started out with the basic points setup but went through a series of condensor (capacitor) failures causing breakdowns on the road. I also had to check the points dwell angle regularly as well. All that is now a thing of the past. If you're in the UK, it may be cheaper to order American parts direct from the USA using eBay. Get hold of the Demon Tweaks catalog, as well as the Real Steel and Car Builder Solutions ones.
Tony.