I ended up exchanging the setup for the internal coil type. The installation of this new HEI was much easier. I only had to hook up the one power wire and move the tach wire from the coil to the new HEI. I'm already loving the new system, the truck runs smoother, doesn't hesitate when I shift or at higher speeds. I would definatly suggest the internal coil type to anyone who is going to make the switch, it was simple to install.
I do have one more question though. With this new distributor in place the engine is blowing quite a bit of oil out where the dist inserts into the block. Is there a gasket I should be using to prevent this oil loss?