The HEI reluctor and pickup coil can be installed in a small diameter housing like the one used on the 230/250/292 six, with the module on a heat sink mounted out of sight, like maybe under the dash. It only takes a little bit of machining to make the 250 housing fit a stovebolt, and parts like the vacuum advance are much more available and less expensive than the movable housing stovebolt distributor. Running dual points is about as logical as cutting holes in the floorboard for Fred Flintstone brakes!
Jerry