the electronics don't "wear out", but they do go bad after alot of use. if you have the money its a good idea to replace the module and the pickup coil. the pick up coil is usually around $15 and the module is around $10. i would replace the pickup coil while you have it apart because you have to remove the distributor and pull the shaft out to replace it.
also every time ive pulled the shaft out of the distributor body, a buildup of oil on the shaft keeps from pulling it out, if you beat it out, you may damage the bushing in the top or at the least pull it out of the body. i always spray some brake cleaner in the holes around the gear and work it up and down twisting and eventually it comes out.