I want to emphasize that although the distributor is Ford, the gear is different. I've got a '77 and I too got rid of my Prestolite distributor and ignition. I've got to admit I've never looked back since.
You MAY want to consider an MSD ignition instead. The installation is incredibly easy and I can't believe how much better my Jeep runs. I've got a manual choke on my carburetor tht's broken, but I've got to confess that the spark is so hot I haven't bothered to repair it. (I live in NORTHERN Arizona where is does indeed snow and get cold) Sure I play with the accelerator a bit until it's warm, but with the MSD it starts right up.
And you're already on your way with a new dizzy anyway...
Be kind. If for no other reason, it will confuse the daylights out of people and make them wonder what you're up to. And ALWAYS drink upstream of the herd!