Dave,
I would check the coil first as it is easy and the cheapest part and therefore most likely not the problem. I still have the original dual point distributor in my 1969 T. Cobra and it works great. I don't drive the car a lot though as it is now 34 years old and still has the original old Goodyear Polyglas tires on it.
The easy way to check the coil is if you have another one of any kind, just connect it into the circuit in place of the one you have and see if it gives you a spark. As I said, I carry an old one for that very reason. I am not familiar with the Holly ignition module but if the coil is good and the distributor is good, then it pretty much points to that. The way my Jacob's Pro Street works is that the module instantly stores enough voltage for about 35 plug fireings and it just uses the coil as a transformer. However I do have a fuse that provides power to the Jacobs computer and you may have one for your Holly module. See if you have and if it has blown. I pull that fuse before I do anything with the electrics on the motor as it keeps some things hot all the time. If this doesn't help let me know and we can go step by step. E-mail me if you like and it may be faster than by posting.
Ron
