Hi Scotty,
I have a 1958 Corvette, 140,000 miles, 3 speed manual transmission. I've had this car for 52 years. About 15 or so years ago a mechanic that I used replaced the engine and installed a new electronic distributer against my wishes. He said that my distributer was bad (not true). I can't go after him since he has passed away some years ago.
Anyway I have replaced the LX301 Standard module about 5 times in the past 10 years. I'm trying to find out why this keeps happening. I just replaced it again this past Saturday in which I needed to be towed home the night before. It was replaced 1 1/2 years ago and about 2,000 miles. I called Standard Motor Products and they said to ask you since they don't have an answer for me.
I will now keep two spares in my trunk to avoid the long wait (6 hours) for a tow and getting home at 1:30 AM.
Do you have the original distributor? If the car is not driven a lot I'd just reinstall that. If you say put 1000 miles a year on the car and the points and condenser last 10K miles you won't have to worry about them for 10 years.
That's what I did when the aftermarket Pertronix electronic ignition went bad in my '71 Ambassador. The car is used so little that I just went back to ignition points.