I'm still trying to decide if I want to get an MSD ignition of not, and if to upgrade my coil. Would there be much advantage to getting the MSD ignition by itself, and retaining the stock coil?

 

the problem with this is that the MSD coil is made to load and unload spark very quickly, and they are oil filled to keep them cool during all of this. The factory coil will work, but MSD doesn't recommend using stock coils because they fail quickly. Plus if you keep the stock coil bolted up, but not hooked up, and use the wiring found on this site, if your MSD box takes a dump, all you have to do is re-hook the factory coil and coil wire up, and you are back on your way.

but to answer your question, yes, it will work both ways, but the MSD coil is a pretty inexpensive upgrade to the box, so I'd just get it.