Kerry, you can put the dura spark parts in the 427 distribuors, you just need to change every thing from the advance parts up, the main shaft is the same. the real problem is getting the 3 wires out. You would need to cut a slot in the housing, destroying the value of the dizzy.
I think I would try a different dizzy and see if it makes any difference, if not keep what you have. Im sure their are other points conversions that would work well with a msd box.. I vote to keep the 427 dizzys for the correct look, dont think a billet dizzy is going to make muck difference in the end other then not looking right.
Rob
Edit to add the dura spark parts from any v8 dizzy can be used to convert a points dizzy.