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The Ford DS-II ignition system is quite adequate for your truck. I'm building a 500 ft-lb 400 cube engine and will run that ignition, so your 302 will be happy with it. Just make sure the plug wires and plugs are good and enjoy.
83 F100, just a heads up, be sure with that new Holley carb that you hook up the AOD
linkage correctly. If you are not sure how to do that get someone who knows how to
do it. You can destroy that AOD if you drive it out of adjustment.
Oh Yeah!!! The AOD linkage kicked out butts. Had buy 2 Lokar bracket kits and cut out a section of the stock throttle/cruise bracket for the Lokar carb bracket to fit. I think we got it right. It shifts really smooth. Used an oil pressure gauge and the tool that came with Lokar bracket to make sure the trans pressure was around 35psi when tool was installed.
Move away from the engine, I think you have all you are going to get and still be a reliable driver. If you drive it in the winter I would put the stock aircleaner back on it with it's hook-ups.