Two main issues come to my mind:
a) I'm not certain the dual point disti will even fit the later style motor. (I'm not certain it won't either, but it jumps right out at me) The motor styles are pretty radically different, even if the distributors look pretty similar. I recall someone here modding a 75 or older to an electronic disti but I couldn't find anything in a quick search, so the two may well be cross compatible.
b) I don't see any gain over the single point disti, much less the electronic. The dual point system was used as part of the emissions control system and the 76 and later motors have other completely different methods and systems that accomplish the same thing. It changes the timing in coasting conditions, where the new motor changes the mixture with the coasting richer solenoid.
Points are easy and cheap to replace compared to the electronic distributor. If anyone doubts the cost issue just price a pickup module or a full disti for an 81-82 LUV on
http://www.rockauto.com and then check the points and disti for a 79 or 80. However, points are always self adjusting themselves (by wear) the entire time you are driving the truck. The electronic distributor, when working, is going to remain the same. It works or doesn't. You don't have to worry about how far off it has worn to and when it is time to readjust or replace the points. I had an 83 PUP with the electronic and all you had to do was time it and it just ran. My 79 and 77 LUVs you have to replace and gap the points, retime it, regap the points if its still not right, then retime again and then the end result is still a sorta steady idle. That 83 idled dead on hot or cold, and I never had to replace any of the disti parts.
Plugs and wires will do a lot if you are replacing old ones, and if the disti goes out down the road they'll still work fine with either electronic or points. My first shopping trip on a newly purchased LUV would be points, condensor, cap, rotor, bosch plat (just plats not plus4) plugs and a set of plug wires. (Well, add fuel/air/oil filters

) An upgrade to the coil will also probably bring some gains (never tried it myself) and will also work with either points or elec.