The only place where any accuracy is lost in a flying magnet/6AL-2 is what happens when the coils are fired. The distributor in such a system has no function other than firing a certain plug-wire. It introduces one (extra) mechanical point into the system.
There's no doubt smart coils would remove that mechanical junction and be better by any objective metric. However, we're all making decisions (you included) that are also subjective. It's definitely NOT purely "function over form", or we'd all be driving something else.
Everybody balances the objective/subjective nuances at a different point. There are no shortage of guys here who just want a "jump in and drive" restomod experience, and are happy to sacrifice air-cooled purity for it. Others are happy to accurately replicate the original 356/550 experience with swing-axle cars and 1600 cc engines. You and I (@DannyP) are splitting the difference-- maybe at different points in different ways, but each of us are choosing where the objective/subjective balancepoint works best for us.
I thought I'd hit my personal bullseye with the modified, locked out twin-plug distributor-- but the size-tiny pickup inside the distributor proved to be the achilles heel of that setup.
Maybe keeping the distributor (for spark distribution) will still not be enough accuracy, but I think it will, and I'm not (quite) ready to take one more step into modernity to get it done.
... but as you know, the twin-plug engine is now for another project down the road. The IM with the 2234 (finally being buttoned up out in Spokane) will have megajolt, and perhaps the full meal deal EFI/crank-fire down the road. My intended use of the car as a long-haul GT demands a different balancepoint than a lightweight mountain flyer.