You have received many good suggestions. Reading your questions it is unclear to me what your end goal is and/or your budget. The various mapped (non-dizzy) systems mentioned above will certainly do away with the points and give you many tuning options. The Aldon options could give you a more traditional solution with improved performance. Both very doable with varying degrees of effort and cost.
The AccuSpark and PowerSpark conversion kits will give you improved reliability with the existing distributor advance curve you have as Tamworthbay said. They will be your least expensive options and very suitable if you are otherwise happy with your engine's performance.
You asked about coils and coil types. A common misconception is that the coil alone can offer improved performance. The energy of the spark at the plugs, the voltage at which the spark occurs, is not determined by the coil but by your fuel/air mixture and the spark plug gap. The problem is that with a standard set of points the coil has a limited charge/discharge cycle that cannot benefit much from high-voltage coils. Electronic ignitions don't have the mechanical limits of points and thus allow you to open up the spark plug gap to get a hotter spark. So... if your goal is a hotter spark, start with the coil you have and open up the spark plug gap a bit after fitting one of these electronic ignitions. I know people who have opened up the plug gap to more than 0.035" with good results. However, I would suggest starting at a more conservative 0.030" and then making small incremental adjustments wider until you start having problems. That will tell you if you want to invest in a "sports coil" or similar.
As for the ballast coil question, that is up to you but there are other less expensive options than buying a new coil. If you decide your existing coil is OK but you want to have a more reliable wiring scheme that does not involve the pink wire, fit an external ceramic ballast resistor like many non-Mini cars use. Go to the Holden.co.uk web site (or eBay, or a local parts supplier) and find a nominal 1.6 Ohm ballast resistor. Run a new white wire from the fuse box to one side of the ballast resistor, run a second wire from the other side of the ballast resistor to coil (+) and disconnect the pink wire. The external ballast resistor will be safer to your car's loom while keeping your existing ballast coil and its benefits.
Edited by dklawson, 15 March 2014 - 01:20 PM.