Rich,
I'm not disagreeing w/ you but,
You *need* to use a ballast resistor with the Mallory dizzy to keep from cooking the coil with the ignition on and engine off.
There is a module, it's just incorporated into the pickup assembly.
The IR sensor is susceptible to transient voltage spikes, see the 3rd link for how it should be protected.

Given that he is only seeing "135-145 cranking psi" either the compression isn't too high or he has a HUGE cam in there (and that's the last thing you'd want for pulling a horse trailer)

Here are links to the installation and troubleshooting pdf's.
http://www.malloryperformance.com/pdf/1214M.pdf
http://www.malloryperformance.com/pdf/UniliteTest.pdf
http://www.malloryperformance.com/pdf/29371.pdf

In closing, my initial response was an effort to help Paulie get his truck running right without hassle or having to become a distributor recurve 'expert'.
Not to knock Unilites or anyone that is running them.