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Buff,
For my touring car: When I installed my NuRex electronic ignition 17 years and over 90,000 miles ago, I purchased a spare module to keep under the seat just in case the system failed. That replacement is still under the seat...never seen use. The only trouble I had with the electronic system was when the ground wire was loose and it became intermittent to start. After tightening the ground wire, it never gave a bit of trouble again.
For my only driven in a blue moon CCPU: I like the standard ignition system because it is original. I totally rebuilt the distributor about 7 years ago. I have driven this pickup about 8,500 miles since it was restored about 22 years ago. Truth be told, I rebuilt the distributor in the pickup not because it was not running but because I had not done a very precise job the first time.
To answer your other questions: It is fairly easy to install the electronic kit (Pertronics) being a couple hour job factoring it is your first one. I have installed a couple over the years and it takes me about an hour to install and wire one.
It can be timed much the same way but most guys that install any amount of them use a timing light.
I would suggest ordering a spare module to carry under your seat for 17 years just in case you need it while on the road. I have a couple FSI distributors on various engines and for any car that goes long distances, I carry a spare module. Pretty cheap insurance to get you home.
FYI: The first thing I check on a car that comes into my shop with electronic ignition and spark problems is the condition of the ground wire. Every time it has been a faulty ground. Not once have I replaced a failed module.
Good Day!