Following Loren's example, I decided to get rid of the antiquated mechanical distributor.
I'm only wondering WHAT TOOK ME SO LONG!
Apparently, the obvious things are not so... obvious.
For the cost and simplicity, the stand-alone MegaJolt-E has no competitors.
Megajolt is a distributor-less ignition system that is fully mappable (using freeware software) via a laptop, allowing the user to program the ignition to fire at any desired angle BTDC, with reference to engine revs and manifold pressure.
More details on Megajolt are available here: Main Page - Autosport Labs
The distributor is, at best, a compromise between power and economy. It relies on centrifugal weights held by springs, with a vacuum advance unit, and these will tire over time giving non standard performance, and these also have mechanical constraints even when perfect. What Megajolt allows is for a decision to made as to the exact ignition advance required in each discrete situation, which is something the distributor with a vacuum advance unit cannot do.
The ignition components are readily and cheaply available from your local junk yard for about 50 bucks as it uses the Ford EDIS (Electronic Distributor-less Ignition System) components that were used in early to mid 90's Sierras, Escorts, Fiestas. The ignition controller can be purchased fully built here Autosport Labs
The EDIS module monitors crank position and communicates to the ignition controller crank position and revs. The ignition controller (the Megajolt unit) looks to its map, and then communicates to the EDIS module when the spark should be fired. If the ignition controller fails to communicate with the EDIS module, the EDIS module will fire the spark at 10°. This is known as limp home mode, and is a built in feature of the Ford components.
To monitor crank position, some modifications were required. The Ford system uses a variable reluctance sensor against a toothed wheel to know what position the crank is in. The toothed wheel needs to have what is known as 36-1 configuration. That is 36 teeth minus one. The missing tooth signifies to the EDIS unit that number one cylinder is now at 90° BTDC. There are a few solutions to this issue, but all require a VR sensor installing near to the crank pulley looking at a toothed wheel. You may bolt a toothed wheel to the crank pulley, or have teeth machined into the crank pulley flange. I have purchased a bracket and the pulley w/ 36-1 wheel especially made for Lotus by those chaps:
Direct fitment, plug-and-play parts.
Lotus - Miller's Mule
To read more, see this link
MJLJ V4 vehicle installation guide - Autosport Labs
Bye, bye old dizzzy!
Thank you Loren!