I drove a 72 formula 455 as my first car for over 50k miles. The only problem I ever had with that system was the wires, which cost me about $75.00 from a dealer in highstown NJ back in about 1980, and the pick up coil failed because the vac advance used to bend the wires. After working the wires back and forth enough, they would break. I couldn't find a pick up coil at the time so I used a later model HEI pick up as took just the coil out of it.
I thought it was a very reliable system. It ran flawlessly otherwise, no point wear,( which retards timing) great at high rpm, etc.
Dave
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