Another thing I'm interested in, peoples thoughts on the S&S electronic ignition and pro's/cons of converting to points.
How would a shed mechanic like myself go about fitting a points ignition, what bits would I need if going down that road.
I don't know about the S&S electronic ignition, but I've been running an eBeyond electronic ignition setup for the past 4 years in my 48-ish Pan (with '55 engine), and I'm very happy with it. I switched from a points ignition to electronic, and the changeover was pretty easy, so going the other way would be pretty easy, as well. All I needed to do was to remove the points and condensor, and the long wire going to the coil. After that, I installed the sensor on the timer plate and mounted the magnetic doodad on the timer shaft.
If you go with a points ignition, you'll almost certainly need to change the coil -- electronic ignitions work with coils in the 3 ohm range, while points ignitions work with coils around 5 ohms, if I'm remembering things correctly. When I changed over to electronic ign., I changed my plug wires, as well, following the advice of the manufacturer, to shielded wires. If you're running points, you don't need to worry about the electricmagnetic field that surrounds solid-core wires.
Pro's of points
They're lots cheaper than electronic ignition components,
You can always carry a spare set of points/condensor in your tool kit,
Con's of points
Quality of condensors - some brands fail right out of the box,
Points have to be checked for adjustment fairly often.
If the condensor fails, your points won't last long.
Pro's of electronic ignitions
Once they're in and the timing is set, you don't have to do anything more to them.
Many people report that starting is easier (that was the case for me as well).
If the diode in the sensor craps out on you, you're stuck, unless you happen to have a spare sensor with you, which almost no one does. I've had excellent results with mine for the past four years, though. Excess heat inside the spark timer seems to be the major killer of these things.