Some of the other guys will be able to give much more detailed info as to performance. From what I could see, the conversion advantage is the simple fact that you can retain a "stock" look. That was the reason I went from HEI to Pertronix as I wanted a stock look. I then went back to points in an attempt to fix my "breaking up" issue. As it turned out it was my hood tac wiring that was causing the breaking up. Based on the fact that I could not see any performance advantage I left the points as I like the look and just knowing I am running old school tech. I think it's cool.
When the points take a dump on me and leave me stuck on the side of the road, maybe I won't think it's so cool, but for now I'll keep em!