That’s a good looking car.
As far as ignition goes, the stock duraspark is fine. I do like my Davis distributor though.
For good, cheap cooling, you can buy a sn95 aluminum radiator (I like the americanmuscle.com house brand one, sr performance) and get a 94/95 oem electric fan from a junkyard or even new on rock auto. The sn95 fans put out some pretty serious air volume, and will directly bolt to the sn radiator. I’ve ran that setup with underdrive pulleys on multiple cars and never had a charging issue, or problems keeping cool. I’ve driven in stop and go traffic here in Savannah and my temp will stay exactly where my thermostat is set to.
I guess I’m one of the rare people who actually wouldn’t knock the underdrives. If you’re going to upgrade to the 3g alternator anyways, you won’t even notice. Along with a good radiator the pulleys really won’t negatively affect you. Tuff stuff actually makes a 150a unit that comes with wiring supplies and everything for $200 and it’s a nice piece. Plus made in the USA.
As far as the driveshaft goes, that’s your call. If your current driveshaft is still in good balance, I’d recommend just leaving it be. They actually hold up to a good bit of abuse.
For a timing light, the good ole $40 lights work great. No need to get fancy here with all kinds of displays and everything. If it’s got a single button, it’ll get the job done every time.