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You do not need a mechanical advance distributor and the vac advance MSDs (even ones for chevy dodge etc) use Duraspark guts so it would pretty much be a waste of money.
I also suggest recurving your distributors advance. If you cant do it yourself Scott can. www.reincarnation-automotive.com
Just get the dizzy curved...dont buy heads or a cam from him.
I would, however, consider swapping out the duraspark module for an MSD 6 series ignition box. The 6AL gives you the added benefit of the limiter for a touch over $200. You could go fancy with the 6al-2 or some of the other 6 series digital deals but IMO your engine cant benefit from the extra gizmos.