Hey Shark49
(sorry late response!)
Yes good point, the HEI is the epitome of reliability. It'd be nice if someone could take an Iron Duke HEI and adapt it to a L134 distributor base.
As for the internal vs external resistor for a 12V coil, I went with an external ballast resistor and regular coil because you can take advantage of a bypass "hot" (during the use of the "start" position, (key or floor button) to the coil for extra strong spark for cold starts.
If you do find a used distributor, I found that they are quite easy to take apart to replace the bushings. Sintered bronze bushings can be found at a good hardware store, and the rest of the guts are easy to clean and put back together.
Good luck, I hope you find a good solution!
dave