I agree with all that has been said here.
However, if you are looking to upgrade the ignition...here's what I used on my '73 and the results have been amazing.
I converted the stock points type distributor to a Pertronics digital "solid state" type and used the Pertronics "Flame Thrower 2" high output coil. I think the whole set up was around 150.00 or so from Summit Racing. In addition to this, I recently upgraded the cap and rotor to MSD (all copper conducters...MUCH better than the standard brass)...it was $24.00 on sale at Advance Auto Parts. Also went to the 8.5MM MSD Super Conductor wire set ($92.00) at Advance Auto. The wires have the lowest resistance per foot of any wire out there (compare 40 ohms per foot on the MSD to over 200 ohms per foot of stock). Keep in mind that OHMS are a measurement of electrical resistance...or...the ability to move an electrical signal or current through a conductor. In comparison, My spark was running through a garden hose and now it's running through a fire hose. Also running the Bosch Platinum Plugs (just the regular one..not the +2 or +4).
I really didn't notice much more power off the line, but when it hits the 3,000 RPM mark...hold on! Just really pulls hard. Now I'm still using the stock exhaust manifolds so this was really a great improvement.

If you do all this, the set-up should last you for 50,000 miles if your engine is running clean.

Good luck!