Yes, I see no reason you couldn't however I've learned with the HEI units (all of them, including Tom Langdon's Mini-Hei) it is important to seal them well at the top either with an internal O-ring in a groove and/or an external O-ring where the clamp fits to hold them in the block. Otherwise they'll leak/seep. Also in contrast to the original style, things work best if you can have the distributor firmly set...and with the original setup the distributor naturally had a little wiggle because to adjust timing the vacuum canister moved the whole thing back and forth a bit. I think if I was doing this it would be only for the appearance and I think I'd sacrifice the original style clamp making it solid with a large metal washer on the bottom for the O-ring. With any of the HEI units out there, you'll get a new vacuum advance canister.
Actually for the cost of $60 (including shipping) or so on eBay, a person gets a good deal of new "stuff" you might not even think about...vac advance, rotor, dist cap, coil, all the internals...things that if you bought them separately you would pay about twice what the distributor costs.
Also, if you're prone to tinkering you can buy for about $15 a set of 6 weight springs that will let you adjust the centrifugal timing curve a bit...you know, springs with lighter tension will give you more advance at lower rpms, tighter springs will hold advance back until rpms increase, etc.
