The valley cover shown is from a 1958 LINC and the bulge covers the road draft tube opening at the rear of the engine. Yours will have a PCV System.
As for a later distributor, an FE (352/390) FORD will interchange. On an early MEL, you have to ascertain the drive gears are of the same design and change it if neccessary. MSD does make a performance distributor, but I believe it has no vacuum advance feature, which you need for driveability and fuel economy.
My suggestion is to take a good core, make sure the bushings and shaft are good (you can have this rebuilt), buy a repair breaker plate asm. (D2PZ 12151-A), a later style vacuum cannister (yours has shims and a spring to control the amount of vacuum advance)(later model FORD or ACCELL), install a PERTRONIX II ignition and have it curved properly. Of course keep the earlier advance housing if you want the period correct appearance.
I forgot to mention, if you have a stuck distributor on this style engine and the distributor becomes free but still will not pull out, make sure the valley pan is not causing it to hang up. If it is, remove the pan to free the distributor so as not to warp the pan.
There are also two styles of special service tools to remove a stuck distributor housing, one is a hook that surrounds the bottom of the bowl and is attached to a slide hammer puller. The other is a tool that is placed under the bowl and by tightening two cap screws will force the distributor housing up and out. I haven't a flat scanner at the moment or I would show them.
As for the photo upload feature of this site, it has not worked for awhile. If you will notice, this is a very low buck message board. You have to have hosted the photos and then just insert the URL here and it will show automatically.
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