Its your money and your choice, some people choose an EI while others choose conventional points and have strong opinions one way or the other, so I will just toss out a few pros and cons. A set of conventional mechanical contact points opening (on high cam lobe) and closing (off cam lobe) is used to switch the coil current on and off versus a solid state device which does the same thing electronically in an EI.
Advantages of conventional points are if they burn its possible to file them good enough to get back to the barn while if a EI fails you're pretty well screwed,,,,,,,,,,Points are much cheaper then an EI although if the EI keeps working its cost will be less then several sets of points over time.
An advantage of an electronic switch (if still working) is it provides fast more positive current switching then do bouncing ringing continually burning (developing resistance) points,,,,,,,,,,,,,,No worry with bad or failing condensors,,,,,,,,,,,,Little to no degradation over time versus mechanical points that over time develop carbon and burning and pitting and resistance,,,,,,,,,,No adjusting (gap) required like when points wear.
If the points are new and shiny and clean and adjusted correct, the spark energy discharged across the plugs gap when it fires will be near the same as if an EI is used, however as the points burn and pit and carbon and develop resistance over time, performance suffers versus an EI which pretty much stays the same over time (if still working) as there are no mechanical switching components to develop resistance.
HOWEVER heres another issue: If you continue to use a conventional coil the spark energy with points or the switch is initially about the same subject to the above. HOWEVER with an EI its possible to switch more coil current (with points its limited to around 4 amps or so) and to use a higher energy higher voltage coil and run a wider plug gap to get a higher energy spark (which can improve performance) then you get with the conventional system. In other words to get the most bang for the buck an EI has to offer, you would match it with a higher energy higher voltage after market coil and run a wider plug gap. It still works fine with the conventional stock coil, its just that an EI typically has the capacity to handle more coil current and the capacity to handle a high energy high voltage coil in which case you can use a wider plug gap and get a higher energy spark (if after market coil is used).
Most people report improved starting and idling with an EI. All the above gets more important if you modify your tractor giving her more compression and heavy duty use but for conventional or light duty and a stock coil, other then not having to buy more points as they burn, the EI doesnt improve performance all that much.
TIMING Yes the distributor still needs to be timed Well DUH, HOWEVER the timing remains pretty well consistent with an EI versus with points which changes over time as the points rubbing block and the points themselves wear. IE with an EI you can pretty much time it initially and it doesnt change as much as with points
The automotive industry went to EI years ago for good reasons and that same technology obviously applies to old tractors, but one problem is the after market EI doesnt seem to be near the same quality as found in modern autos.
I report, now you decide, its your money and your tractor and your choice despite people who may have different opinions or experiences one way or the other. The above are simply electrical realities and theory and true to the best of my current knowledge.
John T