john,
I upgrades my ignition system last year from points to electronic it is very easy conversion takes less than an hour. mine was a merc 4 cycl. iron duke. I believe if you change the distributer like you are talking about you will need to tell whoever you order you kit from because it will be a different kit than stock. one other thing to note is you will likely have to buy a different coil to run the electronic ign. if I remember correctly it needed to have at least 3ohms of resitance.