i'm running a pertronix II with a stock coil. Its a cheap made in china yellow top coil, knock on wood I've gotten 4 years out of it so far.
So i've run points, P1 and a P2.
with my ignition system in good shape i never saw a difference in performance.
now when i ran a high power coil there was a little more power over stock.
Stock plugs, stock gap, stock wires, stock distributor, and the points and p1 and p2 all ran the same.
but what is the difference?
The problem with points will always be they need adjustment, the more cheaply made the points are the more it will drift.
points can't take a high powered coil either, that said its harder to maintain the ignition at peak performance for a long period of time.
A high powered coil will also deteriorate the resistance wire, the plugs, the ignition wires, rotor and cap faster.
installing an electronic ignition removes drifting points out of the Equation as a maintenance issue.
since the electronic ignition switches the coil firing from analog to digital you can run a higher powered coil if you feel your spark isn't hot enough. With points the higher voltage when the contacts come together just wears the switch out faster.
installing a P2 gives you the benefit of adaptive dwell which adjusts spark timing at high rpms to try and prevent misfires, with points at high rpms the points can skip and cause engine misfires. it also autosenses startup and its suppose to make cold starts easier.
personally i never saw a performance difference from a p1 to a p2 as far as cold starts. nor did i have an issue with my points skipping however i don't drive around at 5000rpms 99.9% of the time.
I think the p1 is more reliable then a p2 the p1 is older technology while the p2 uses a microchip inside its much easier to damage a p2 then a p1. of course either a p1 or a p2 could die out of the blue and leave yo stranded so everyone carries a set of points in the trunk just in case.
I've run a p2 for the last 3 years continuously and pretty much i forgot it was there.
the year before that i ran points and a p1 unit, i had a magnetic sleeve go bad on the p1, and used the points for like 9 months straight, and i was constantly having to make adjustments to the points after long trips, it would just drift all over the place.
there are other electronic ignition systems, people love Malory or Accell systems.
I've been happy with the p2 so far.