I was told it was not controlling the spark however upon farther investigation i have corrected a wiring error and also noted that it was setup to control the spark but still had mechanical advance so out it came and i welded the advance weights down. It is a distributer with a pertronix electronic pickup/ignition module, aka electronic points.
Now before anyone says you can't use this style distributer for EFI setups they are dead wrong i have designed a interface module that quite nicely runs or shall i say triggers the 8 pin gm ignition module. For $50.00 I'll sell you one, just email me. It does have a oxygen sensor also. I just ordered a Moates APU-1. I was using a ftdi 232rl to data log with but it was too unstable for me. so i just gritted my teeth and shelled out the bucks for what i understand is one of the best setups for GM obd1. it will be here monday i can't wait. I will post more after i tinker with it for a bit.