When bought my1949 truck the PO had bought and installed a new "regular" distributor. I have not had any problems with the distributor at all. I have a extra set of points and a condenser in the glove box just in case I have trouble. I thought about going with an HEI or something like that but I really couldn't see a reason why. Points and condenser really has done good for me. Mind you that I just use my truck for pleasure. Not a hot rod so I guess it's what you are going to use it for.
