It can run perfectly fine on a distributor cause it did so on my car.
I dont beleive that it has anti lag, as its a fairly early one and thats a more recent addition, dont know for certain though as I never looked into that as I only had it on a road car.

One thing it does have though that normal others dont, as its an ex development verson, is that its got dual map functionality on it, so you can load two entire maps into it and then dashboard mount a switch to swap between them, for either on nitrous or raceful or similar.