Yes, its designed to work with EEC-IV. Teh computer controls the advance. You'll need an older Duraspark if you want factory electronic.
if you want advance yes , if not no. it is a perfect to use with a msd box. you can also use it with a duraspark box just like the old dist. but you will have no advace . simple to wire. one wire is a dist. body ground. the other 2 are the pick up . use an ohm meter to find the ground by putting one lead on the body and to each of the wires inside the plug.