This is just my opinion. You could say yes to all. Since the output to the spark plugs is constant from an HEI system, as compared to points, once it is set your performance will remain the same over time. This would mean that you want waste fuel, start hard and idle like crap during the time that your point have moved out of adjustment. You wont have to deal with keeping your points adjusted to the sweet spot. Except for changing the plugs and checking the wires you wont have to mess with the ignition. Dwell time for the HEI is more of an on and off deal than points which allows your coil to recover more after a spark. You also get a higher voltage to the plug which at least on my MGA allowed me to open up the plug gap some. The higher output to the plugs means that as the plug gap widens with time there is more juice to make the spark jump the extra distance. That should give a more complete burn of the fuel. That being said a well adjusted points system probably would come close to working as well. The problem is they don't stay adjusted. That is why new cars don't have points. Some one will be along that knows more than I do about it but that is my guess.

Neil
http://community.webshots.com/user/neilhatten