Good suggestions given. HEI is a good choice, run a new power wire, 12GA, from the IGN spade on the fuse panel is the easiest route.
However, if getting an HEI, new plug wires will be needed.
Petronix module, 1187, is a good idea if you decide to keep the OE distributor, or even buy a rebuilt point dist and convert it. No wiring change needed and keep the OE style plug wires, unless you want peace of mind and change them also.
But don't throw away the point dist, it can be a good troubleshooting tool.
You will have to adjust the HEI vac curve as I have seen some of them bring in 55° of advance and you will have to try by trial & error, running full vacuum verses ported vacuum on the HEI in finding the best operation.

 

They make the HEI units for almost all motors that were ever built. Fords Slopars AMCs and the list goes on.

 

no clearance problem with a HEI cap in my 68 SB

 

If you want to run a electronic distributor .One of the MSD distributors will work. And they have all the instructions on how to do it.