Ross,
I went the 12 volt route on my F8 and am quite satisfied with the results. I am still using the 6 volt starter. If you don't turn it over for any length of time, it will work just fine.
As for the distributor, it should work just fine in the 12 volt mode. However, if you want an electronic system, Mallory has several different ones for early Ford/Mercury engines.
There's a booklet out on US eBay for 6 to 12 volt conversions. I bouth it and it was quite helpful.
Best of luck!
Regards,
Jim
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