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Mmm. I know that someone was (still is) making a starter conversion for these engines. I do not recall a distributor conversion.
IMO - putting the coil inside the distributor cap (ala HEI) is not a great idea.
If you want VR (variable reluctance - that's what HEI and Duraspark both are), you may be able to convert the 327 distributor to a VR trigger. This shows the conversion steps for a Delco distributor ... you may be able to do the same for the 327. http://junkyardgenius.com/jeep/cj502.html
Note that, if you have a good 327 points distributor, it will trigger the MSD module without modification. Using the distributor as a trigger (separating the coil triggering from the module triggering), the points will last a looong time, and you can have the hot spark that comes from the MSD module.
Tim Reese
Maine beekeeper's truck: '77 J10 LWB, 258/T15/D20/3.54 bone stock, low options (delete radio), PS/PDB, hubcaps.
Browless and proud: '82 J20 360/T18/NP208/3.73, Destination A/Ts, 7600 GVWR
Copper Polly: '75 CJ-6, 304/T15, PS, BFG KM2s, soft top
GTI without the badges: '95 VW Golf Sport 2000cc 2D
Dual Everything: '15 Chryco Jeep Cherokee KL Trailhawk, ECO Green
Blockchain the vote.