Was reading an article on how people are ditching their distributors and going with a coil near plug (CNP) system on old iron. I'm not the one to fully teach you how it works but look into it. It ain't pretty but hey.
I'm running a stand alone D.I.S . I'm still carburated but the programmable , crank triggered system really provides rock solid timing. No more fiddling with weights, springs, slots, or vacuum pod. You want less timing for the crappy gas you just got ? Flip the switch to alternate map. Mine also modifies curve based on coolant temp.
https://www.autosportlabs.com/product/megajolte-mk2_crank_fired_ignition/ Waste spark so it only needs crank sensor. I'm using coil packs from 5.0 explorer or 4.6 mod motors. I cut down a distributor to drive oil pump only.(ford 460) Except for the controller everything else is available from junkyard or parts store.
It's more money than the mk2 posted, but a Microsquirt will let you use any crank trigger setup you can come up with, and run any logic/smart style wasted spark coil packs. With the extra dollars you'll get a handful more timing controls, rev limit settings and be able to datalog a host of inputs.