Tom,
As for your points, I think we have the same distributor; a Northeast 10896. I wouldn't even mess around with old points, there are two sets in that distributor and they are about $300 to replace if you can find them, The hard surface of those points is so thin that after they have been filed once you will need to mess with them constantly.
I bought a points conversion from these guys.
http://www.packardsintnw.com/regional_projects.htm It was great, it only set me back $100, its very nicely made and easy to install. It uses 1960's Chrysler points that are easy to find and cheap. While you are at it, I would look into their ignition timing pointer. It bolts onto the driver's side of the timing chain cover and allows you to time the car with a gun! Much easier than the "pull the starter/use a light bulb technique." If you go to a show, it comes off in less than five minutes. And no, I don't work for them!
Scott
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