I have two, one is the original 1949 that came with the 303 in my 88. The other is a 1956 that came with a parts 324 engine. The original 303 has now been bored to 324 and has 56 heads and rockers. Would there be any advantage using the later distributor? the Vac advance on the early one is dead. other than needing a new cap/rotor/points/condenser, the 56 looks in good shape. Any ideas? Oh, to add to the fun, I'm in the UK, miles and weeks away from any useful bits! Jim
Points are sensitive to excessive side play, runout and end play of the shaft and bushings, cam wear, gear backlash etc. If they are clapped out I wouldn't use either of them, but use the one with the least mechanical wear.
Oil pump shafts the same on both engines? Can't recall the year change. Might have to change the drive gear but other than that the 56 should work out ok. As Truck said check all the parameters of the unit.