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I did it on my 73 and it made the biggest difference, starts up much easier now than it used to and runs better. if you have any questions send me a pm and ill do my best to answer them. one of the best mods on my truck
Make sure the hot wire going from your ignition to your distributor is not a resistor wire, it it is change it out, you need a full 12 volts for HEI. a points distributor setup will have a resistor on it somewhere to keep from burning up the contacts prematurely.
It is a very easy swap and well worth it. To avoid any wiring issues, I ran a new piece of wire from the cap to the fuse box.
My only issue was that the first one I dropped in had a bad module and then I dropped in the dist 180* off the first time. There are a lot of threads on setting your timing/swapping in a new dist. Try these two for starters: