Mike's right, the HEI is all the distributor you need for the street. The caveat to that is HEIs were installed and setup for SMOG, and recurving might help it's performance.
If it was me I'd sort out what's there now. The disconnected vac adv is definitely not helping performance any. Assuming you still have manual choke cable you might be able to hook that back up. Intake manifold oil leaks are common. It's a little tricky setting the intake manifold down without moving front or rear gasket, unless you do it often.
Forget the Holley, it's a nice carb for racing, but a maintance hog other wise. A good Quadrajet would do as well for the street.
How far north are you? I'm in central CA by Stockton.
Larry
