I have built a few electronic ignitions from a kit available here in Oz from a firm called Jaycar.
http://www.jaycar.com.au/productView.asp?ID=KC5442
There are super reliable and perform great.
I haven't done the programmable version but the Hall Effect base model is fantastic.
Also there are a few aftermarket kits which are very good.
I fitted one of these to my '65 Datsun Fairlady: -
Attachment:
Electronignition4cyl.jpg [ 60.36 KiB | Viewed 894 times ]
The beauty of this system is that it suits both positive and negative ground cars, the Fairlady being positive ground.
They are reasonably priced and rarely fail.