Umm,the "Mike D" approach? You mean staring blankly at the car until some idea pops into your head?
Looks like a great deal on the car. You'll enjoy it. The M110 is a fine, solid, power plant. Its major flaw is the carburetion. There are numerous "work a rounds" to this problem.
Another option for the ignition is to use the "Pertronx" or "Hot Spark" ignitor system. I've used all three and they all have worked flawlessly. I now lean more to the Pertronix or H.S. systems because they don't have the external module the Crane requires. Less wiring is always a better thing in my book.