Megasquirt can be triggered from methods other than a wheel. You can probably do it with your current distributor and have megasquirt/microsquirt fire the coil. If your distributor is a VR based unit you could probably wire a General Motors HEI module up and then have megasquirt command the HEI which would automatically handle coil dwell, if I remember correctly. You'd want to get the 7 or 8 pin HEI module which allows for a control signal from megasquirt to command the timing changes. You would also do something to prevent your distributor's advance mechanisms from moving.
I ran a megasquirt on a 1978 Yamaha motorcycle. I triggered off the motorcycle's coil, I didn't not try to control the timing. But I do not think it would have been very hard to do so.
I'm not sure what you need to do with your existing k-jet injectors, but others here have definitely done this type of conversion in the past, so they should know what to do.
In my opinion, megasquirt will give you much easier control over the engine from a tuning perspective. You would have a huge advantage over k-jet because megasquirt has a big and obvious footprint on the internet to learn from, and tuning can take place from a laptop. You will have a much faster "tune iteration cycle" than you would on k-jet. On K-jet, you probably have to at minimum open the hood of your car to make changes, but with megasquirt you can do it from the passenger seat while driving.
Hope that helps. Sorry that the better way isn't always the one with the smoothest path forward.
Yeah, I know ahah.
I've since changed my mind and will go with a Microsquirt setup. Megasquirt is a bit too expensive for me right now.
My dizzy is of the fully programmable type. It adjusts itself based on 2 curves, the RPM based one and the other one is ran from a build it MAP sensor (It handle both vacuum advance and boost retard).
I'm going to update you about my choices, since you seems to know the do's and don't.
For now I'll stick with my 123 dizzy, as its working great + I've spend 500 euros in it (coil and wires included) so I'm not ready to ditch it yet, I'll ditch it later on for a coil on plug method (I think Microsquirt handles that). So here are the parts and mods
Stock Garrett T3 turbo, I need to order the OE rebuild kit
740 intercooler
B230F na manifold, swapping the fuel regulator for a 3 bar one, keeping stock K Jet pumps and relay (less sure about the relay).
850 TPS with a special bracket for the B230 throttle body (for MS to know the load demand)
MAP sensor (since MicroS doesn't have one, I'll buy the one that came on MegaS and mount it somewhere ABOVE the engine (to avoid ruining the sensor), for MS to do its fuel magic
air intake temp sensor, ofc, and coolant temp sensor (I might do an E Fan mod, not sure)
MaxSpeed H Beam cuz I don't feel running 150+hp on stock 9mm rods
Mocal oil cooler and thermostat (sandwich plate)
Full engine rebuild (more like a refresh, I will measure the bore N' other stuff, hope to reuse the block...)
big fat injectors (around 420cc, to run E85).
2.5in exhaust, single muffler custom made, maybe the KG Trimning one if I can get it shipped.
It being a euro K Jet means it should have an A cam, will do for now. Hard to get used T cams here.
Power goal at least 150 reliable, maybe 170 for fun.
AEM Lambda gauge with its Bosch sensor, 0 - 5V output directly to MS.
Some boost/vacuum gauge of some sort alongside an oil temp gauge. No oil pressure gauge as its costly af (digital, cuz I'd rather avoid having hot oil lines going under the dash)
Btw I live in Europe so JY parts are mostly out of the question.
Support mods : IPD 25mil sway bars, bracings (lower and upper). Full bushing replacement (regular, I want a smooth ride so no poly + can't afford hem' anyway.
I know having a separate ignition and fueling is not the best but I can't afford to MS it all now, unless I can get REALLY good deals on most parts... which is hard.
I think I got it all, may have forgotten to add some details.
Edit : no need for an oil feed restrictor on the line going to the turbo ? I can't find anything about that on TB, either im using the search fonction wrong or its not needed
Edit 2 : found out that my exhaust mani is cracked.. Good news is its a pre 90 (the ones that isn't flowing as well as the later style) bad new is its gonna cost money to buy a new mani... Not that easy to get by around here. The crack isn't big but lets WD40 throught... Its like, an inch long and 0.5mm where its largest. Its on the flat part facing the engine, between the 4 bolts, dead center)... Can I JB weld the thing or something ? I really can't afford any of the new ones and I can't find used ones for good prices on Ebay...