The ignition system plainly doesnt need to be improved. Its usually good to 300HP as long as you have a good set of wires.
This is what i have done (and recommend to you):
Leave Stock ignition coil.
Get a good distributer cap and rotor. Make sure they have BRASS terminals. Borg Warner, and Accel are usually excellent canidates.
Go with Champion Truck Plugs for your spark plugs.
Get a good set of plug wires. Borg Warner (Im talking about the NASCAR set) is decent if you are getting it at your local store. I personally swear by Magnecor wires now, but they have a hefty price tag:
www.magnecor.com
I got the KV85's (8.5mm) Part # 6544 for the RENIX, Part # 6595 for the HO 91-98. When i first bought them i got the 6595 set because i had planned on swapping to a HO 7120 head onto my RENIX block, but the coil wire was not long enough so i had to send them 10 more bucks for another coil wire that was longer. Even when i build my stroker and use a HO head, the wire set will still be for a RENIX unless i changed the location of the COIL like in latter years (which would be silly).