Re: ignition conversion
No more points to adjust or replace, much more moisture-resistance. Ooops, I'm assuming you're talking about a Pertronix conversion. The pain in the butt with those is you can't leave the key in the on position with the engine not running or you burn 'em up.
I just did this conversion in my '89 4.3 OMC. As usual, the peace of mind knowing I don't have to monkey with points is worth it.
As far as power, you probably won't notice any difference. Might idle a bit better.