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Honestly if you ask 5 different people you are going to get 5 different answers, some will suggest just recurving the stock dizzy and that might be fine (don't ask me cause I always switch to aftermarket) but since your gonna get a bunch of answers anyway, my personal choice is the MSD unit. I prefer to run the mech only advance units but most of what I build is race or really HP anyway. for street the best probably would be the msd, with vac advance part number 8477 or the 8350. But like I said thats my personal choice, I have run MSD dist, and ignition boxes for 25 yrs and never had problems like I did with mallory.
It can be run with the factory ignition box, about the only thing you might need would be plug wires due to the different types of ends on the dist. assuming you have the factory female type and those on that dist are the HEI male type (look like a spark plug.) If your truck doesn't have an electronic ignition then you would need a ignition box os some sort, if it does your good to go, and could update that later if you want.
I'm running a full MSD setup on the 400 in my '53. I have the 8580 mechanical advance dizzy, 6A ignition box and a blaster 3 ignition coil. The only thing I would change would be to get the vacuum advance distributor. I'm running a rebuilt Accel dizzy in the 400 in my '79 F-350 4x4 and it is hooked up to the stock ignition and I have had no problems with it.
I am running a Pro-Comp TFI dizzy on my EFI conversion. I have a Mallory Promaster coil, and a Holley Annihilator box. Before the EFI conversion, I used a Mallory Unilite with vacuum advance with the same setup.
I have the MSD with vacuum advance on my 400, I also have an MSD with mechanical advance only on a 383 Mopar, if you are mostly street driving I would suggest that you get a distributor with a vacuum advance, it will help the mileage. I like the ability to easily tune these MSD distributors advance curves and total advance. When you get these out of the box they do need a change in setup, mine have always had the bushings for the least amount of advance and the heaviest springs installed. I do have the MSD spark boxes and they have worked well for me. As far as that dang Blaster 3 coil though I have had 3 fail on me (left me on the side of the road failed) and will not use them again. I do like the Mallory coils I am using now. Sure you can set up and re-curve a stock distributor if you have access to a dizzy machine and for the book I have not had a duraspark unit fail on me, but I do like my shiny stuff!
Though pricey, the Crane Cams digital distributor is the state-of-the-art dizzy. Three vacuum advance and nine mechanical advance settings all set from OUTSIDE of the dizzy make setting ideal timing a no-brainer.
I also run the Crane Cams control module and coil, totally eliminating the Duraspark II ignition altogether.
I'm sure all the aftermarket ones work just fine and are a lot easier to adjust. But you won't find any replacement parts at the local parts stores. When it's broke I want the part now not a week from now. That is the main reason I won't run one. They also just don't offer enough of a performance advantage to justify the expence either.
My distributor was trashed so I bought the MSD, I have the rest of the duraspark stuff on the shelf. If any thing fails I can go pick up a rebuilt distributor at Napa and get going. If I get the opportunity I will dyno the duraspark against the MSD. It is likely a placebo effect but others that I know say they can feel a seat of the pants difference. One thing I am sure of it that they make my cold blooded Mopars easier to start, no doubt about it.
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