if you gut the balist res and just use the shell,it would be best to solder the ends on the #10 stranded wire to make a good connection
since this is an old cast iron duel point dist I would pull it and see if it has side to side movment
if it does it will need rebuilt,the shaft wobble is common but like said not the rule when trouble shooting
and you may check into finding a diff dist and go to single points,then pertronix
pertronix may have a duel pick up conversion also so check with them or a dealer
good luck and update us when you find your problem