You can't just junk the dizzy, as it drives the oil pump, and supplies the phase, though the phase signal can be moved elsewhere.
Reyland do a dizzy bit that sits flush with the block and acts just as a oil pump drive then.
It is perfectly possible to high a very high power cossie on std ignition with no misfires if everything is right.
I looked into the conversion but consider myself that is it expensive when compared with aftermarket ecu, that do coilpack plus lots of other stuff, might be best to decide what you wnat in the long term and save for that.
The msd conversion certainly works well though.
tabetha