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tobin1959,
What you have is what I have using for over 12 years on a 12v 261 in a 1954 truck.
I think you will be OK without the ballast resistor (you might want to still contact Pertronix technical support).
Also, good grounding of the engine/distributor is very important. I intend to run a ground wire from a clip-screw on my distributor to a nut that holds the coil to the head (I know my engine grounds to the frame/battery are very good).
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