The .030" hole in the oil gallery plug that goes "behind" the distributor is a common modification these days. It "pees" oil at the junction of the cam and distributor gears, a known "wear point" with the Pontiac. Very simple change.
The 113Ms are the "race" bearing.
The standard replacement head gaskets are completely adequate for virtually ALL N/A "pump gas" applicatoins. The Felpro "blues" certainly aren't "crap". IMO, the 1016 is a waste of money. We use Victor/Reinz gaskets these days. They're every bit as good, if not better, than Felpro, and actually look "correct". The blue gaskets Felpro provides are a "dead give away" that things have "changed". Victor was OEM for the Pontiac in olden times.
Comp recommends at least one "life" for a bronze gear before installing the polymer gear. The bronze gear is "sacrificial" and wears out over a relatively short time (some as many as 10K miles, others, less than 1K). You "monitor" that by watching igniton timing. It "retards" as the gear wears. Once the gear is to be replaced, THEN use the BOP polymer gear. The idea is the bronze gear "wears" the edges of the cam gear, so it won't "eat" the new polymer gear. The "shards" of bronze left in the oil from the wear are not significant. We've had guys run the polymer gear for 100K miles without issues.
