Pulled off a few bumpers in my day that way (And straghtened a few), lol. Digital ignition is the way to go, really. I have a total Mallory system on the Moo, and the Saguaro is getting the same exact thing. pretty painless and trouble free, and NO CHIPS to buy to change the rpm limiter feature! (Dip switches)
But MSD, and some of the off brands would probably be ok too. Really anythings better than points! Theres a reason they haven't been used in cars in 30 years! Definately a worthwhile upgrade. As far as cons? there ain't any other than it ain't cheap and you gotta retune the engine all over again.
I'm running a Unilite Dizzy, Hyfire 6AL box and Pro-coil (Be careful on the Pro-Coil, only certain model numbers are compatable with Unilites and the HyFire unit). Most people on here are either HEI or MSD, which are fine as well.
Ray