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Curious why you think the distributor is at fault? Is just the tach malfunctioning?
HEI distributors don't "Go Bad". If there are issues you can repair or completely re-build them to last another 40 + years for not much more than the cheap Chinese rebuilds the parts stores will sell you. Fluctuating tach after warmup could be several different problems. Is the Factory tach signal filter still in place?