I replaced my point distributor with a 1976 Duraspark. (Bought from NAPA). Previously, I bought a REAL junker with the control module from an auto wrecker - was dirt cheap - didn't work. I used the distributor for the core (That's where I got my money, back). I "gutted" the control module, and put in a GM HEI ignition module. Works great!
We replaced our crappy original Load-O-Matic with a Performance Distributors D.U.I ignition in our 65 Falcon 170. It has been great! No ignition box, no points, no condenser, no maintenance, just 1 vacuum hose and 1 wire run off the ignition switch and go. Don't use the hot wire going to old distributor because it goes through a resistor. We did have to make a new oil pump drive shaft (comes out of the bottom of dizzy). We just cut a long allen wrench to the right length. The factory oil pump drive shaft is 1/2 inch too short. We get a big hot spark and it starts easy and improves the big dead spot in the middle of the torque curve. It wasn't cheap...almost $400, but worth it every time it starts right up.
I use one of those on my 400 Ford not because I thought it was good but because The only two distributors that would fit My engine with the intake spacer plates was a HEI or a MSD, I have had bad luck with My MSD and will not waste money on another one!
The chance I'd ever use a GM dist in any Ford is zero & none... Except for Buick, at least on most GM V8 or V6 engines it's hidden out of sight on rear of engine...
I like a distributor that makes my engine run , The stock duraspark distributor would not fit into the engine because the manifold was in the way I used a MSD 6 for 3 years but in three years I had to replace the box three times! It was cheaper to buy a HEI for my ford than to buy another box so I bought the HEI! As far as performance goes my My car runs the same times at the drags as with the MSD and I run a full season without replacing a box!
Duraspark vs HEI http://www.ifsja.org/forums/vb/showthread.php?t=19440 Duraspark vs DUI http://www.junkyardgenius.com/ignition/jeep/HEIcompair.html