Chris,
The billet distributer that George Anderson makes is from a modified distributer and I understand that it does have the hall effect sensor for the cam position sensor needed for full sequential operation. I personally think $395.00 isn't a bad price considering you are going to pay around $300.00 for a Mallory or MSD distributer and then have to pay again to have it modified for the efi sensor. I couldn't build this for $395.00 Just my .02. Good luck!
Mike
By the way, I just came back today from my engine builder, Shelby Enterprises, took them the TWM manifold for port matching and polishing and met with the fuel injection guys that are going to be tuning my engine. I know how you feel to be at the beginning of a "fun engine build"